{"id":3540,"date":"2024-02-21T14:03:01","date_gmt":"2024-02-21T14:03:01","guid":{"rendered":"https:\/\/chezaspin.com\/blog\/index.php\/2024\/02\/21\/ruto-kenya-poised-to-reap-rewards-of-prudent-management\/"},"modified":"2024-02-21T14:03:01","modified_gmt":"2024-02-21T14:03:01","slug":"ruto-kenya-poised-to-reap-rewards-of-prudent-management","status":"publish","type":"post","link":"https:\/\/chezaspin.com\/blog\/ruto-kenya-poised-to-reap-rewards-of-prudent-management\/","title":{"rendered":"Ruto: Kenya poised to reap rewards of prudent management"},"content":{"rendered":"
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The Government\u2019s prudent management of the economy has positioned the country for growth, President William Ruto has said.<\/strong><\/p>\n

The President said the enforcement of fiscal discipline and implementation of prudent debt management has pulled Kenya away from the brink of debt distress.<\/p>\n

He said the country\u2019s finances are in good shape, providing the necessary conditions for the successful implementation of the Bottom-Up Economic Transformation Agenda.<\/p>\n

\u201cOur economy is on a trajectory that will create more jobs and more wealth, finance investment in public goods and services and usher this nation into an era of inclusive growth,\u201d he said.<\/p>\n

The President made the remarks on Wednesday at a press briefing during the Second National Executive Retreat in Naivasha, Nakuru County.<\/p>\n

President Ruto said the government has been ably managing debt liabilities, maintaining a low cost of debt and ensuring that debt is sustainable at all times.<\/p>\n

The President said the government\u2019s turnaround strategy focused on increasing tax revenues and reducing expenditure and debt accumulation.<\/p>\n

\u201cUpon assuming office, we committed to bring our economy back on track by taking necessary measures, making necessary choices and out rightly going all out to raise revenues, reduce expenditure and ensure that we live within our means,\u201d he said.<\/p>\n

He said Kenya has successfully settled the buy-back of part of the $2 billion 2014 Eurobond that was to mature on June 24, 2024, by paying $1.5 billion raised last week.<\/p>\n

He explained that this has enhanced investor confidence in the country, resulting in the appreciation of the shilling against the US dollar from Ksh 162 to Ksh 142.<\/p>\n

\u201cIn turn, this has reduced our overall debt by Ksh 722 billion and our debt service costs by Kshs 195 billion over the next 6 years. This has saved the country a total of Ksh 917 billion,\u201d he said.<\/p>\n

Additional indicators of rising investor confidence, he noted, include the performance of the recent issue of the Eurobond, the Infrastructure Bond and increased liquidity in the market.<\/p>\n<\/div>\n

The post Ruto: Kenya poised to reap rewards of prudent management<\/a> appeared first on KBC<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The Government\u2019s prudent management of the economy has positioned the country for growth, President William Ruto has said. The President said the enforcement of fiscal discipline and implementation of prudent debt management has pulled Kenya away from the brink of debt distress. He said the country\u2019s finances are in good shape, providing the necessary conditions […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3540","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/3540","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=3540"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/3540\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=3540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=3540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=3540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}