Kenya puts efforts in stabilising the debt situation.
On 9th of November 2023, His exallency the fifth president of the Republic of Kenya doctor William Ruto, faced the parliment to speak to the nation on the nation's progress over the last one year.
Acording topresident Ruto, Kenya has put efforts in stabilising the debt situation and is now yielding progress. "In December, the will be able to settle the first $300 million instalment of the $2 billion Eurobond debt that falls due next year." Noted president Ruto. As a result of the Government’s initial interventions to foster a solid culture of saving among Kenyans, the savings situation in the country aims to change for the better. Contributions to the National Social Security Fund have grown to Sh6.5 billion a month.
The construction of 46,792 housing units in various parts of the country are underway to build a strong foundation for youth in accessing jobs while another 40,000 are to commence for construction. At least 50,000 Kenyans, who were previously jobless, are now engaged in this life-changing enterprise. Implementation of new University Funding Model that is student-centred and deploys a rigorous, impartial
means testing instrument to establish their level of need, which then becomes the primary consideration in allocating scholarships.
The government has instituted radical reforms in the provision of healthcare services in Kenya, including the enactment of four new laws that will anchor the implementation of this Bottom-Up as expansion of digital provision of public services to encompass 13,000 services is a vital callout; "it is our commitment to ensure full digitisation by the end of this year." President Ruto noted.
While speaking in parliment he noted that firm and decisive measures to deal with the challenge of banditry are still underway, armed crime, cattle rustling and other forms of impunity in all parts of our country. This is to ensure that there is a conducive environment for businesses to operate. In keeping commitments, 56,750 new teachers have been employed, while 8,200 primary school teachers were re-trained to equip them with knowledge to effectively deliver learning and teaching at the Junior School level.
We undertake of ensuring urgent transformation of the economy is an assumed Progress that has been made in enhancing food production, creating employment and taming inequality. The Government is committed to put the shame of hunger behind through supporting agricultural production. " Today, a 2KG packet of maize flour is selling at between KSh145 and Ksh175 depending on the brand, down from Ksh250 while a Gorogoro of maize is retailing at an average of Ksh70." Stated president Ruto.
On hustler fund, the president stated that Hustler Fund has exceeded the expectations of the government. By the end of October, the Fund had disbursed Sh36.6 billion with Sh2.3 billion in savings and 7.5 million recorded as repeat borrowers whose repayment was at an 73 per cent. The top borrower of the Fund has so far accessed a total of Sh4.5 million in 816 transactions. The top voluntary saver is at Sh631,491.
The president urged Kenyans to have patience as the economic progress of the country is being fixed.
Vincent Moses,
Reporter Kuza News digital,
Nairobi.
Photo source:PRESIDENT WILLIAM RUTO.
