President William Ruto has said that the Kenya kwanza government is committed to addressing the high cost of living in the country.
Speaking during the State of the Nation address in Parliament on Thursday, Ruto said the high cost of living is a reality which is experienced in most Kenyan households.
The Head of State said the issue can be solved through practical actions for instance supporting agricultural production.
“The cost of living is not an abstract phenomenon, it is a reality experienced by households which can be addressed by practical actions and effective measures. One of the interventions of addressing the high cost of living is the strategy to support agricultural production throughout the sector,” said Ruto.
The President went on to say he is committed to end the shame of hunger in the country once and for all.
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Ruto noted that the government’s move to reduce the price of fertilizers from Ksh 6500 to Ksh 2500 has reduced the prize of maize flour in the country.
"As a result of this intervention, today a 2kg packet of maize flour is selling at a low of 145 and a high of 175 depending on the brand you buy, down from Sh250 a few months ago," Ruto said.
The President attributed Kenya’s economic problems to the the Covid-19 pandemic and geopolitics saying they resulted in disruptions of the global supply chains and raised the inflation rate.
“The Covid-19 pandemic, coupled with geopolitical conflict significantly raised the interest rate,” he said.
Ruto at the same time said he is on the course of making Kenya a better country and will fulfill his campaign promises to Kenyans through the Bottom-Up Transformation Agenda.
On the external debt, President Ruto said Kenya will be paying the first Ksh 500 billion Eurobond installment by December.
The President explained that Kenya has a $2 billion debt which is due in 2024.
"I can confirm with confidence that we shall and will pay the debt that has become a source of concern to citizens, partners, and Markets,” he added.
Ruto also observed that the country has been living beyond its means adding that it was time to cut wasteful expenditure.
