President William Ruto’s administration – which swept to power on promises of easing the cost of living – has found itself blaming international market forces and misgoverning by the previous regime for failure to implement some of its pledges. Some top government officials have ended up contradicting themselves on the true position on some of the issues, like the cost of crude oil in the international market. President Ruto in his State of the Nation address on Thursday blamed Mr Kenyatta for allegedly plunging the country into an “avoidable debt hole” by engaging in reckless borrowing. In my estimation, in the next couple of months, the exchange rate will come down to below Sh120, maybe Sh115, you never know,” said President Ruto. “The international prices of fuel could go up to $150.

Source: Daily Nation November 12, 2023 13:47 UTC