President William Ruto has said that his administration has successfully stabilised Kenya’s economy, lifting the country from the brink of a debt crisis and propelling it into the top six largest economies in Africa.

Speaking on Saturday, July 12, 2025, Ruto recalled the economic challenges his government inherited two years ago, noting that global financial analysts had predicted a bleak future for Kenya.

“Kwanza pale nyuma, nilikuwa na kazi ya kuunganisha mambo ya Kenya na kudhibiti uchumi wa taifa letu,” the president said. “Wengi walikuwa wameorodhesha Kenya kati ya nchi sita za Afrika ambazo zitaingia taabani kwa sababu ya madeni.”

Translation: “Back then, my job was to unite the country and stabilise our nation’s economy. Many had listed Kenya among six African countries that were headed for economic collapse due to debt.”

According to Ruto, five of the six countries that were flagged as at-risk by international agencies eventually fell into crisis. However, Kenya managed to avoid a similar fate, thanks to what he described as disciplined and strategic economic planning by his administration.

“Tano ziliingia, lakini Kenya tuliokoka kwa sababu tulipanga mambo yetu vizuri,” he added.

Translation: “Five went under, but Kenya was spared because we organised our affairs well.”

Kenya’s economy showing recovery

He further revealed that the International Monetary Fund (IMF) had recently acknowledged Kenya’s economic progress, stating that the country had climbed from being the 8th to the 6th largest economy in Africa.

“I can now say with confidence, the economy of Kenya is stable. Our currency is stable, our foreign exchange earnings are stable, and that is why Kenya is now the sixth largest economy in Africa,” Ruto said.

He noted that this progress was part of his initial promise to stabilise the country’s financial systems amid a serious debt burden and economic uncertainty. One of the key indicators of this recovery, he explained, was the strengthening of the Kenyan shilling.

“Our currency has come down from being 165 to 129 against the US dollar,” he said, framing it as proof that Kenya’s economic fundamentals have improved.

Ruto’s comments come at a time when his administration is under intense scrutiny, particularly from young Kenyans protesting against rising living costs and governance issues. While critics have raised concerns over unemployment and high taxation, Ruto has remained firm in his stance that long-term economic recovery is already underway and will soon yield tangible benefits for ordinary citizens.