President Ruto Hails Economic Turnaround, Cites Recovery from ‘Brink of Collapse’

Elgeyo Marakwet, Kenya – July 14, 2025

President William Ruto has declared that Kenya’s economy is firmly on the rebound, asserting that his administration has steered the nation away from the verge of financial collapse and onto a trajectory of sustained growth. Speaking at a public rally in Elgeyo Marakwet County on July 12, the President cited improved revenue collection, a stronger Kenyan shilling, and easing inflation as key indicators of the country’s economic revival.

“Just a year ago, Kenya stood on the brink,” President Ruto told the crowd. “Today, we are being recognized by global investors and credit rating agencies as one of the most promising economies in Africa. That is the result of focused leadership and sound economic planning.”

Ruto credited his administration’s “bottom-up” economic model—a central plank of his campaign platform—for driving the turnaround. He argued that reforms targeting grassroots enterprise, improved tax administration, and a clampdown on public sector waste are beginning to bear fruit. He also pointed to renewed interest from international financiers as evidence that investor confidence in Kenya is rebounding.

“We are not just stabilizing—we are growing,” the President said. “This recovery belongs to the people, and with continued patience and unity, we will transform this economy for good.”

A Cautious Optimism Among Economists

While recent data suggests that certain macroeconomic indicators are trending in a positive direction, analysts warn that Kenya’s economic outlook remains mixed. Inflation has declined slightly compared to its 2024 peak, and the Kenyan shilling has recovered some of its earlier losses, buoyed by increased diaspora remittances and international credit facilities. Tax revenues have also shown modest growth, helped by digital compliance campaigns.

However, Kenya’s public debt burden—now estimated at over KSh 11 trillion—continues to loom large, with debt servicing costs consuming nearly half of government revenues. Unemployment remains stubbornly high, and the informal sector, which supports a majority of Kenyan households, is still grappling with low earnings and limited access to credit.

“We are seeing signs of stabilization, but the fundamentals are still fragile,” said Dr. Faith Ndegwa, an economist at the University of Nairobi. “Debt sustainability, job creation, and inequality reduction will be the true tests of this administration’s economic legacy.”

Political Messaging Amid Public Discontent

President Ruto’s remarks come at a time when his administration is under pressure from widespread public protests over the Finance Act and high cost of living. The rally in Elgeyo Marakwet appears designed to reassure both domestic and international audiences that his government remains in control of the economic narrative.

Critics, however, argue that any optimism is out of touch with the lived reality of millions of Kenyans still struggling with soaring food prices, underemployment, and reduced access to public services.

“We welcome progress, but it must be felt at the household level—not just in boardrooms or spreadsheets,” said opposition MP Millie Odhiambo. “If the economy is growing, why is poverty deepening?”

Looking Ahead

President Ruto has pledged to intensify economic reforms in the coming months, including increased investments in agriculture, digital infrastructure, and industrial processing. His administration is also expected to seek further support from multilateral lenders to manage debt obligations and improve fiscal space.

As Kenya balances cautious optimism with pressing socio-economic realities, the question remains whether the gains touted in Elgeyo Marakwet will translate into widespread and inclusive development across the country.