In his New Year speech to the nation from State House, Nakuru, President William Ruto acknowledged that 2023 had been a particularly difficult year for Kenyans. Despite the President’s reassurance to the nation, the cloud of a Ksh300 billion Eurobond repayment in June 2024 threatened to make 2024 yet another difficult year for Kenyans in terms of economic growth and cost of living. In 2023 alone, Kenya borrowed in the external market over Ksh300 billion (USD 2 billion) and collected over Ksh1 trillion in taxes. President William Ruto speaking from State House, Nakuru on December 31, 2023. Digital Strategist Dennis Itumbi on December 27, revealed that President William Ruto was taking the issue of debt repayment and economic stability seriously heading to 2024.

Source: Daily Nation January 01, 2024 07:00 UTC