MIGORI, Kenya – President William Ruto has defended his administration’s economic record, saying Kenya has steered clear of a debt default despite being flagged as high-risk by international financial analysts.
Speaking in Migori County on Thursday, Ruto said Kenya was among six African nations projected to default on their obligations, but it was the only one that did not.
“A lot of people predicted that Kenya would default on their obligations… Out of the six, five defaulted. Kenya did not,” the President said.
He credited the government’s fiscal discipline and “tough decisions” for shielding the country from a financial crisis, pointing to improved inflation rates, a stronger shilling, and the IMF ranking Kenya as Africa’s sixth-largest economy.
“I want to assure you that… we will not allow our economy to go back to where it was. We will march forward, and we’re going to get better,” Ruto said.
The President also defended the removal of consumption subsidies, particularly in agriculture, saying they offered only temporary relief.
He recalled the 2023 cost-of-living protests, when demonstrators carried empty sufurias to highlight hunger and soaring maize flour prices.
“I explained that the solution to food insecurity was not through subsidies on consumption, but by supporting production — by going to the farmers,” he said.
According to Ruto, the shift towards boosting production will empower farmers, stabilize supply, and eventually lower the cost of basic food commodities.
