President William Ruto has declared the debt crisis over and the economy stable,
President William Ruto has declared the debt crisis over and the economy stable
Ruto: We stabilized the economy, debts cannot harm us again.
During a Sunday thanksgiving ceremony in Taita Taveta, he claimed that he had worked for eight months to stabilize the economy, which had succeeded.
Ruto said his government was committed to lowering the debt ceiling and that it was urgent.
“I have held several meetings with World Bank, IMF, and others whom we have borrowed money from but I want to confirm to the people of Kenya that we have stabilized the economy and now we cannot be threatened by debts again. “I cannot allow our country to borrow left right center,” he remarked.
President Ruto urged Kenyans to support his taxes ideas as an alternative to borrowing.
We’ll collect taxes at home. I will lead the tax payers. “We want that tax to run our country on our own,” he stated.
“And if it is possible for us to do it, we must do it because that is a sustainable way of taking Kenya into the future so that we strategize on our plans knowing where we will get the money.”
Despite global economic shocks, Kenya’s Ksh.9.4 trillion governmental debt is manageable.
Treasury Cabinet Secretary (CS) Prof. Njuguna Ndung’u said the State will cut spending this year to improve debt sustainability.
