Kenya poised for accelerated development after Eurobond settlement

BOMET, Kenya, Mar 16 – President William Ruto has assured Kenyans that the economy has bounced back and the country is set for better times.

The President noted that despite tough economic times, the government remained steadfast in making the right decisions for the country, decisions he said have paid off.

He cited the recent strengthening of the Kenya shilling against the dollar and the resolution of the $2 billion Eurobond.

Consequently, the price of consumer products such as maize flour and fuel have reduced significantly, clear indications of a stabilising economy.

“Our economy was in bad shape and we were overwhelmed with debt. However, within one year, we have streamlined everything,” he said. “This is the year we are going to deliver the government’s development agenda. Kenya is going places.” 

The President commended Kenyans for their patience when the country was going through tough times.

“We will move our country forward through unity, working together and taking bold steps that will put our country on the path of stability and growth,” he added.

President Ruto made the remarks when he launched the construction of the Longisa-Sigor-Chebunyo and Kyogong-Sigor roads in Chepalungu Constituency, Bomet County. 

Deputy President Rigathi Gachagua, Infrastructure Cabinet Secretary Kipchumba Murkomen, Bomet Governor Hillary  Barchok, Majority Leaders Kimani Ichungwa (National Assembly) and Aaron Cheruiyot (Senate), MPs and MCAs were present.

The Head of State said Parliament has passed the Affordable Housing Bill and he will sign it into law and pave the way for the implementation of the Affordable Housing Programme.

He said the programme will create jobs, ensure Kenyans live in decent homes, curb the fragmentation of arable land for settlement and grow the manufacturing sector.

“We want to make sure that we do that which is going to change our country,” he said.

The enactment of Universal Health Coverage regulations, the President explained, will ensure no Kenyan struggles to pay medical bills.

On the last mile electricity programme, President Ruto said the government has set aside KSh49 billion to connect power to households across the country. 

In Bomet County, he said, 12,000 households will be connected to electricity by the end of the year. 

The President announced that the government is building a new power line from Narok and Bomet to Western and Nyanza regions to eliminate power disruptions.

“By December, this line will be completed and will address the blackouts you have been experiencing,” he said. 

President Ruto warned those who have made attempts to sabotage the government’s subsidised fertiliser programme that they will face the full might of the law.

“I have instructed the Ministry of Agriculture to ensure every farmer gets the subsidised fertiliser at KSh2,500,” he said.

The President urged the youth to take advantage of the export of labour programme and digital jobs to earn a decent living and transform their lives. 

Mr Gachagua said when the Kenya Kwanza administration assumed office in 2022, Kenya was burdened with KSh9.8 trillion debt, adding that this posed a threat to the country’s economic stability.

However, under President Ruto’s leadership, the government has successfully steered the country away from the debt crisis and paved the way for economic transformation.

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