By God’s grace, President William Ruto has said, Kenya has managed to pass countries like Ethiopia and Angola and is now ranked as the sixth-largest economy in Africa.

Speaking to Kenyans living in Qatar on Tuesday, November 4, 2025, Ruto happily stated that the country’s economy has stabilised over the last three years despite global financial challenges.

This comes after Ruto stated that, a month ago, the IMF ranked Kenya’s economy as the sixth-largest in Africa.

Kenya’s economic progress

Ruto said that key indicators show Kenya’s economy is on the right track. He explained that inflation, which stood at 9.6 per cent three years ago, has now dropped to 4.6 per cent this month.

The President also said the Kenyan shilling has strengthened, moving from 165 to around 128 against the US dollar.

“Our economy, since the last three years, has stabilised. The inflation has come down from 9.6 per cent to 4.6 per cent this month.

“Our dollar exchange rate strengthened from 165 to 129, 128… I don’t know whether that is good for you guys,” Ruto said as Kenyans in Qatar applauded.

The Head of State also pointed out that Kenya’s foreign exchange reserves have grown steadily, rising from 5.7 billion dollars in 2022 to 12 billion dollars currently.

He said this growth has helped the government address the dollar shortage that had affected importers and other key sectors.

“At least we can sort the dollar issue,” he added.

Also watch: Ruto says the country has come a long way in stabilising our economy.

Kenya beats economic odds

Ruto further said that in 2022, Kenya was among six countries that international financial experts had predicted would default on their debts.

However, by what he described as divine grace and strong policy measures, Kenya was the only one that did not default.

“For those of you who follow international financial news, Kenya was among the six countries that everyone thought were going to default in 2022.

“But the good news, by God’s grace, of the six countries that were supposed to default, five did, and Kenya did not,” the President said.

He went on to confirm that the International Monetary Fund (IMF) had recently released a report showing Kenya’s economy had overtaken that of Ethiopia and Angola, officially making it the sixth-largest economy on the continent.

Ruto concluded by assuring Kenyans abroad that the government will continue implementing sound policies to keep the economy strong, stable, and inclusive.