Kenya: Ruto Vows Sustained Savings Reforms to End Reliance on Foreign Loans

Nairobi — President William Ruto has said the Government is keen on increasing the country’s savings.

The Head of State said the move would wean the country off foreign borrowing, which had crippled the economy.

He noted that the country had only saved Sh350 billion in the last 60 years in the National Social Security Fund (NSSF).

He, however, pointed out that the Government has reversed the trend and is on course to doubling NSSF savings within four years.

“In a short while, we will not need to borrow from elsewhere to grow our economy.”

He made the remarks on Sunday during a church service at the Faith Evangelistic Ministry in Karen, Nairobi County.

First Lady Rachel Ruto, Environment Cabinet Secretary Soipan Tuya, Governors Anne Waiguru and Susan Kihika were present.

President Ruto said the Government’s interventions aimed at reducing the cost of living were bearing fruits.

He said the subsidised fertiliser programme has helped the country to boost food production.

“Our projection this year is that we are going to increase our maize production from 44 million bags to 61 million bags,” he said.

The President said the Government is keen on increasing the acreage of land under agriculture through irrigation.

He added that the country will no longer spend Sh500 billion every year to import food.

“We should not be importing food; we should be producing more and even export the surplus,” he said.

He said the Government has put in place deliberate measures to tame unemployment.

“The housing project is more about jobs than houses,” he said. – Presidential Communication Service


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