Ruto Economy Stable Low Inflation

President William Ruto has assured Kenyans that the economy is stable, even as he warned cartels in the petroleum sector against exploiting the Middle East crisis.

The President said inflation has dropped to 4.3 per cent, the exchange rate has remained stable at Sh129 for the past 18 months, and foreign exchange reserves now stand at a historic $14.6 billion.

“I can confidently tell you that we have stabilised our economy,” he said.

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Speaking during an interdenominational church service in Impopong, Kilgoris Constituency, Narok County on Sunday, Ruto warned that individuals seeking to profit from the crisis in the Gulf Middle East will face firm action.

“We will deal firmly, decisively, and conclusively with all the cartels in the oil sector,” he said.

The President said the government will not allow profiteers to exploit Kenyans through corruption in the petroleum industry, stressing that all those given public responsibility must be accountable.

He said cartels in the oil sector will be handled in the same way as those in the sugar, coffee and tea sectors, which he said had already been eliminated.

“We are committed to the fight against impunity. We have stopped cartels in the sugar, coffee and tea sectors, and will will similarly stop those in the petroleum sector,” he said.

Ruto added that those involved in distributing sub-standard and counterfeit fertiliser had also been punished.

At the same time, the President urged Kenyans to reject divisive politics and embrace unity.

“We must reject divisive politics, hatred and tribalism and work together in ensuring shared prosperity for all,” he said.

He added: “If we want our nation to be truly blessed, we should work in unity.”

Ruto also highlighted progress in education, saying his administration has built 23,000 classrooms, recruited 100,000 teachers in the past three years, and improved financing for higher education.

In Narok County, he said two major sugar companies have been built to boost farming.

On healthcare, the President said 415,000 people in Narok have registered under the Social Health Authority, urging more residents to sign up.

Prime Cabinet Secretary Musalia Mudavadi said the global oil challenges present an opportunity for Kenya to adopt alternative transport.

“As a country, we must increasingly adopt electric vehicle mode of transport,” Mudavadi said.

He also disclosed that 47 of more than 250 Kenyans recruited to fight in the Russia-Ukraine war have returned home.

Local leaders, including Governor Patrick ole Ntutu, Kilgoris MP Julius Sunkuli and Woman Representative Rebecca Tonkei, pledged support for the President ahead of the 2027 elections.

Tonkei dismissed critics of the government, saying they were jealous of ongoing development.

“Many people are criticising President Ruto not because he is not working, but because they are jealous of the ongoing transformation agenda across the country,” she said