In Summary
- President William Ruto has expressed confidence tough economic decisions made by his administration
- He says choices that were made have brought long-term benefits for the country.
President William Ruto has expressed confidence tough economic decisions made by his administration in 2023.
Ruto while addressing the nation from the State House lodge in Nakuru,noted some of the tough choices that were made have brought long-term benefits for the country.
He said that some of the fiscal discipline involved a reduction in the government’s expenditure of up to Ksh400 billion and choosing to live within its means.
“2023 is the year we decided to stop wastage and extravagance instead, opting to live within our means. We decided to cut expenditure by up to Ksh. 400B to reduce our borrowing,” Ruto stated.
According to the Head of State, this move aimed to alleviate the nation’s reliance on borrowing, a strategic measure to ensure sustainable economic growth.
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Additionally, the government introduced new tax measures designed to boost revenues significantly.
The head of state believes that the sacrifices made will yield lasting economic stability for the country to be independent and secure in clearing its debts.
“We have triumphed over the threat of economic stagnation, and we are now in a secure space about our sovereign debt obligations,” he declared
