Nairobi, Jan 1 Kenyan President William Ruto has said that reforms initiated by his government are expected to result in stronger economic performance, increased job opportunities for the youth and higher incomes for farmers and entrepreneurs.
Ruto, who delivered his end-of-year address in Kisii, western Kenya, on New Year's Eve, said the government has successfully laid a solid foundation to hasten the country's socioeconomic progress in 2025, urging Kenyans to embrace the New Year with faith, hope and determination to achieve greatness for Kenya.
"The progress we have made has set us firmly on a path of rapid and sustainable growth. As a result, we can anticipate stronger economic performance, more jobs for our youth, and higher incomes for farmers and entrepreneurs," Ruto said.
He said Kenya continues to outpace global trends, with gross domestic product growing 5.6 per cent in 2023 and positioning the country among the world's fastest-growing economies. "We expect more investments will mature in 2025, leading to a considerable expansion of our manufacturing sector and an increase in exports."
Ruto lauded the Kenyan spirit that endured economic instability, climatic upheavals, and global inflationary pressures, noting despite these adversities, the nation continued to forge ahead, achieving notable progress in critical areas such as food security, healthcare, and education.
The president said reforms in basic and higher education would also bear fruit, providing new momentum and focus for the entire education sector. The Kenyan shilling, which began the year on a low note, has strengthened significantly, rising from 165 shillings to the US dollar in February 2024 to 129 on December 31, 2024.
Inflation, a key indicator of economic health, fell from 9.6 per cent in September 2022 to 2.8 per cent in November 2024, the lowest in nearly two decades. Foreign exchange reserves have surged by 2.4 billion US dollars to reach 9.5 billion dollars, providing five months of import cover and insulating the Kenyan economy from external shocks, noted the Kenyan leader.
Ruto outlined an ambitious roadmap to sustain and build on these achievements in 2025, noting that his priorities include strengthening manufacturing and export capabilities, bolstering food security and agricultural productivity, improving access to quality healthcare, and creating opportunities for youth through education and job creation.
He said the universal healthcare programme, dubbed Taifa Care, will offer significant relief to households by reducing medical costs and delivering enhanced benefits through an efficient, inclusive, and high-quality public healthcare system, Xinhua news agency reported.
He also assured Kenyans that subsidized fertilizer is already in stores, stressing that the goal is to ensure higher yields from every crop, guaranteeing greater rewards for farmers and food security for all Kenyans.
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