President William Ruto has expressed pride in the economic decisions made by his administration in 2023.
While addressing the nation from the State House, Ruto 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.
Additionally, the government introduced new tax measures designed to boost revenues significantly.
"We decided to enhance our tax revenue by Ksh600 billion to fund our programs and development," he revealed.
The President emphasized that these measures were essential to secure the nation's sovereignty and independence.
"We certainly cannot be independent if we are enslaved by monumental debt, as has been the case," Ruto stated
Ruto 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.
