President William Ruto issued a warning about challenging economic times ahead, advising citizens to brace for difficulties despite his administration’s efforts to address the situation.
He acknowledged making tough decisions, such as removing subsidies on petroleum products, which increased the cost of basic goods.
Ruto blamed his predecessor, former President Uhuru Kenyatta, for what he deemed irresponsible spending and counterproductive subsidies, leading to a significant national debt.
Six of seven economic indicators revealed a precarious situation exacerbated by new tax measures.
The high cost of living, fueled by soaring fuel prices, has contributed to rising inflation for three consecutive months.
Despite these challenges, Ruto outlined his administration’s interventions, including job creation through projects like affordable housing, debt reduction, subsidizing farm inputs, and providing credit facilities to small-scale traders to stimulate economic growth.
Meanwhile here is the news making headlines on Opera News today.
Prepare for tough times ahead: President Ruto warns Kenyans
President William Ruto yesterday warned of tougher economic times ahead, indicating that the already struggling citizens should tighten their belts even as his administration deploys various interventions to alleviate the situation.
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