President Ruto: At a time like this in 2022, Kenya was in distress. Inflation had soared almost to double digits. The shilling was in freefall, foreign reserves had hit historic lows. Debt service consumed more than half of our revenues. We restored fiscal discipline, eliminated wasteful subsidies, strengthened revenue collection and placed our economy on a path of recovery and sustainability. Inflation which stood at 9.6% in 2022, has steadily declined to 4.6% as of last month, bringing much needed relief to households.
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