President William Ruto delivered a significant address today from State House, Nairobi, unveiling stringent austerity measures aimed at steering Kenya through economic challenges exacerbated by recent unrest resulting in loss of lives, injuries, and property damage.
Expressing heartfelt condolences to affected families, Ruto emphasized national unity and outlined priorities including taxation, public debt, corruption, unemployment, and youth empowerment.
These efforts aim to foster unity and address critical economic issues affecting all Kenyans.
Under Ruto’s directive, an independent taskforce will conduct a forensic audit of Kenya’s public debt within three months to clarify its extent and nature.
The withdrawal of the Finance Bill created a Ksh 346 billion deficit, leading to a strategy of Ksh 177 billion in budget cuts and borrowing to protect essential services.
This strategy includes initiatives such as hiring Junior Secondary School teachers and medical interns, stabilizing dairy farming, revitalizing road projects, maintaining fertilizer subsidies, settling debts owed to farmers, and enhancing education funding.
Immediate actions involve dissolving 47 state corporations, integrating functions into ministries, reducing advisors, and enforcing mandatory retirement at age 60 for public servants.
Additionally, Ruto implemented a temporary halt on government vehicle purchases and non-essential travel while barring state participation in Harambees, aiming to improve fiscal discipline and transparency in line with Kenya’s economic transformation agenda.
President Ruto concluded with optimism about these measures’ potential to guide Kenya towards economic recovery, underscoring his commitment to transparency, efficiency, and public welfare in advancing Kenya’s journey towards prosperity and equity.
