In reassuring tones, President William Ruto has conveyed to the citizens that Kenya has successfully navigated away from the peril of debt distress, offering an optimistic portrayal of the country’s economic status.
affirmation took place on Tuesday during the 60th Jamhuri Day celebrations at Uhuru Gardens in Nairobi, where Ruto attributed this achievement to sacrifices made to safeguard the nation’s economic stability.
During his address, the Head of State highlighted positive economic indicators, citing a notable decrease in the inflation rate from 9.2% to 6.8% over the past year.
Ruto proudly shared that in the last six months, Kenya’s Gross Domestic Product (GDP) has grown at a rate of 5.4%, positioning the country as the 29th fastest-growing economy globally, according to the World Bank.
In a forward-looking stance, Ruto emphasized the government’s commitment to propelling economic advancement, with a specific focus on nurturing human capital.
He expressed, “Our human capital, our innovative, smart-working, professional labor force is probably the single most potent arsenal we have to drive our economic progress.”
Ruto underscored the significance of investments in training, learning, and education as crucial elements in fostering the development of the human capital necessary for economic progress.
Expanding on the government’s dedication to enhancing the education sector, Ruto outlined specific financial allocations.
“Out of this, Ksh.46 billion will support the new university funding model, an additional Ksh. 9 billion to cover our TVET funding model and the hiring of an extra 2,000 tutors, an additional Sh. 47 billion to enable TSC to hire 56,000 teachers and other interventions, and Sh. 24 billion for basic education,” he detailed.
Addressing a shortfall in classrooms in Nairobi county, the Head of State reaffirmed the government’s commitment to improving educational infrastructure.
“We have undertaken to build 3,500 additional classrooms with the first Sh. 1 billion allocated in this year’s budget to address the classroom deficit in Nairobi county,” Ruto declared.
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Kenya’s Debt Distress Concerns Eased, Says Ruto At Jamhuri Day Celebrations, Kenya’s Debt Distress Concerns Eased, Says Ruto At Jamhuri Day Celebrations
