Home Business Local Business We have laid firm foundation for inclusive economic growth — President Ruto

We have laid firm foundation for inclusive economic growth — President Ruto

The President explained that the Government has cut expenditure by up to KSh400 billion to reduce borrowing.

Kenya is out of danger and on the path to sustainable economic growth.

President William Ruto said the Government has put in place robust measures to take the country back to its glorious days.

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He said the country has made undeniable progress, noting that inflation has eased to 6.8 per cent.

The country’s economy, he observed, is growing, thanks to the sacrifices made by Kenyans.

“We take pride in the strides we have made. We have triumphed over the threat of economic stagnation. We are now secure to our sovereign debts,” he said.

He made the remarks on Sunday at State House, Nakuru, where he delivered New Year message.

The President explained that the Government has cut expenditure by up to KSh400 billion to reduce borrowing.

President Ruto assured Kenyans that the Government is committed to delivering its Bottom-Up Economic Transformation Agenda.

He said the subsidised fertiliser programme, which sought to support farmers to increase agricultural productivity, has resulted in increased food production by more than 40 per cent.

“Working with farmers, we will double our efforts in 2024 until we reduce our KSh500 billion food import bill to zero,” he maintained.

The Head of State said the Government is rolling an economic growth model that is deliberately inclusive and designed to expand economic opportunities.

“This model seeks to create millions of jobs,” he added.

President Ruto said the country has made immense progress in promoting financial inclusion and the dignity of Kenyans at the bottom of the economic pyramid.

“The Hustler Fund and the new NSSF contribution model exemplify our dedication to inclusive economic growth, financial well-being and social security for all,” he added.

The government, he added, will step up efforts geared towards the realisation of universal healthcare.

At the same time, President Ruto asked public servants to execute their mandate diligently.

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