By BUSINESS DAILY More by this AuthorPresident William Ruto sought to defend the painful tax measures, claiming that they had helped to pull the country from the danger of debt default. “The greatness and patriotic devotion of the people of Kenya have been on display during the past year. Together, we have made the right choices, sometimes taking very difficult and painful decisions, to steer Kenya back from the edge of the catastrophic cliff of debt distress, and move our nation in a new direction,” said Dr Ruto in his Jamhuri Day speech. “Proudly, these sacrifices have paid off: I can now confirm that Kenya is safely out of the danger of debt distress and that our economy is on a stable footing,” said Dr Ruto. Kenya is also racing against time to raise enough funds to pay a $2 billion Eurobond (Ksh306.97 billion) that is maturing in June next year.

Source: Daily Nation December 12, 2023 18:01 UTC