William Ruto Raises Concerns Over Kenya's Economic Situation: "Not Good" – Tuko.co.ke
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President William Ruto has made his maiden speech to the joint sitting of parliament.
The head of state addressed members of the National Assembly and the Senate on Thursday, September 29, two weeks after he was sworn in.
In his speech, when he officially opened the 13th parliament, Ruto laid bare the dire economic situation with the country facing a debt crisis.
He regretted that his government faces a huge KSh 900 billion budget deficit in the 2022/2023 financial year, noting that this must be reversed within three years.
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The president said his government will seek to reverse the borrowing policy within three years so that Kenya could live within its means.
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On Wednesday, Spetember 21, Ruto delivered his inaugural speech at the United Nations General Assembly (UNGA).
In his speech, the head of state asked international lenders to extend debt relief to Kenya and other poor countries that were hardest hit by the COVID-19 pandemic.
Ruto explained that developing countries were heavily burdened by external debt servicing and risked losing development gains due to the shocks inflicted by the pandemic.
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Source: TUKO.co.ke
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