Ruto Credits Tough Decisions for Kenya Becoming Africa’s Sixth Largest Economy

By : Mweru Mbugua

President William Ruto has attributed Kenya’s rise to the sixth largest economy in Africa to the difficult but necessary decisions he took on debt management

Speaking at State House on Tuesday while receiving the Jukwaa la Usalama report, President Ruto said Kenya had previously been burdened by ballooning external debts that threatened to push the country into default

“I had to make painful decisions to ensure Kenya did not join the list of six African countries predicted to default. Today, our economy is on sound footing,” he stated

The President highlighted that Kenya’s foreign reserves had dwindled to $5.7 billion, raising concerns about the country’s ability to meet its debt obligations

He added that the measures taken under his leadership helped reduce inflation from 9.6% to 4.6% and boosted dollar reserves to $12.1 billion, the highest in the nation’s history

According to the International Monetary Fund’s October 2025 World Economic Outlook, Kenya’s GDP is projected to reach $140 billion (Ksh 18 trillion) in 2026, up from $136 billion (Ksh 17.5 trillion) in 2025

Standard & Poor’s also upgraded Kenya’s long-term sovereign credit rating from ‘B-’ to ‘B’, citing improved liquidity and strong performances in coffee exports and diaspora remittances

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President Ruto further noted that Kenya’s $1.5 billion Eurobond issuance and a simultaneous buy-back operation in February 2025 significantly reduced annual Eurobond principal repayments, further stabilizing the economy

“With these measures, the long-term benefits clearly outweigh the short-term challenges,” he said.

Kenya’s economic recovery under Ruto’s administration comes amid global uncertainties, demonstrating the impact of strategic financial management on national growth