Naema Celestine 
BRIAN MANG’OLI
President William Ruto has applauded the government initiatives to lower debt and raise revenue in an effort to strengthen Kenya’s economy. He said that increased investor confidence in the nation, was the reason behind the shilling recent appreciation.
Ruto stated that the central bank of kenya fiscal and general economic management policies as well as its tightening of monetary policy had resulted in the appreciation of the kenya shillings, which has fallen from an average of ksh 162 and 142 USD.
According the CBK public debt in December 2023 domestic debt – ksh 6.5 trillion while the external debt was ksh 6.1 trillion a total of 11.1 trillion (1usd -146 ksh). Forex effects in 9th February ksh 160 and on 21 February ksh 142.7.
Head of state added that prolific change had lifted Kenya out of debt distress and rebuilt financial stability and created the conditions for integrating the bottom up economic agenda. He expressed optimism that the economy was on the path to create jobs, wealth and finance investments.
