President Ruto hails paradigm shift, economic progress in New Year's message

President William Ruto. [Standard, File]

President William Ruto addressed the nation from State Lodge Nakuru on Sunday, December 31, reflecting on the past year and outlining key achievements and initiatives.

 The President acknowledged the eventful year marked by difficulties, challenges, and triumphs, noting the impact of global economic dynamics, the war in Europe, rising interest rates in America, and severe drought due to climate change on the nation’s economy.

He emphasized a paradigm shift in handling national issues with bold and decisive decisions.

“2023 is the year we decided to stop wastage and extravagance, instead opting to live within our means. We decided to cut expenditure by up to Sh 400 billion to reduce our borrowing. We decided to enhance our tax revenues by Sh 600 billion to fund our programs and development, safeguarding our sovereignty and independence. We certainly cannot be independent if we are enslaved by monumental debt, as has been the case,” he said.

Ruto highlighted the country’s achievements, including overcoming economic threats, securing space with sovereign debt obligations, and reducing inflation to 6.8 per cent. He also noted a GDP growth rate of 5.4 per cent, ranking Kenya as the 29th fastest-growing economy globally.

“We take pride in the strides we've made as a nation. We have triumphed over the threat of economic stagnation and are now in secure space with regard to our sovereign debt obligations,” he said.

The President said that his administration had ended consumption subsidies to address financial distress and redirected focus to support production.

 He said that he had collaborated with farmers to increase food production by 40 per cent, aiming to eliminate a Sh 500 billion food import bill.

Ruto lauded the introduction of an inclusive economic growth model, saying it created opportunities and millions of jobs in various sectors, including construction, technical, digital, and entrepreneurial.

He highlighted the success of the housing program, providing homeownership and creating jobs, saying the initiative introduced affordable housing schemes with single-digit interest rates to benefit various income groups.

“Our housing program not only provides decent homeownership for millions, including slum-dwellers who now live in squalor, but it also aims to reverse agricultural land fragmentation and has already created 120,000 jobs, with plans to employ an even greater multitude of people next year,” he added.

The president launched a digital Superhighway infrastructure with 22,000 computers, creating jobs in technical education.

He said that he had progressed well with an international jobs program through bilateral labour agreements for global employment opportunities.

 Ruto increased allocations to the education sector by Sh127 billion, employing 56,000 teachers to improve access to quality education.

 He established the Hustler Fund for financial inclusion, disbursing over Sh 42 billion in one year.

The Kenya Kwanza administration introduced a transformative healthcare approach with community health promoters actively contributing to the nation’s health.

 Ruto said the initiative aims to provide health insurance to every Kenyan, ensuring access to treatment for chronic conditions without discrimination.

He addressed delays and obstructions to policy implementation, emphasizing the importance of constructive competition of ideas.

He criticised opposition without viable alternatives and litigation hindering public programs.

Ruto urged a new political culture for Kenya with a commitment to positive transformation. He encouraged leaders to embrace a new paradigm shift for inclusive growth and accountability.

He highlighted the country’s global recognition in climate leadership, tourism, and foreign direct investment. He encouraged building on a positive narrative that celebrates diversity and unity.

The president reminded leaders of their duty to serve the nation and urged reflection on the ways they act and speak in the name of the constitution.

He emphasized the importance of public interest, inclusivity, and respect for constitutional principles.

He urged Kenyans to build on the positive narrative and work towards a brighter future.