Nandi Senator Samson Cherargei has said the economy is doing well and that there is palpable cash flow in the country since President William Ruto took over power from the last regime.

“The Kenyan economy is looking more resilient than it was before. The economy is better after William Ruto took over power. As we talk, even when you walk around, you can feel money,” Cherargei said.

“The cost of living and that of food has gone down, and many other issues are coming up that look good for this country.”

Cherargei whose Constitutional Amendment Bill of 2024 sought to extend the term limits of all elected leaders from five to seven years was rejected noted that critics of the government must offer alternative solutions.

In his controversial bill, Cherargei opined that it took elected years at least two lost years to settle down in their offices and that the last year is usually spent in an electioneering mood.

During its rejection by the Senate, it was revealed that 99.9 Kenyans were opposed to the bill against Cheragei’s earlier assertion that 60 per cent of Kenyans were in support.

“The voice of the Kenyan people has been unequivocal,” Committee Chairperson Senator Hillary Wakili Sigei while presenting the report to the Senate plenary.”

“Out of 168,801 submissions received, only eleven stakeholders provided specific comments on the bill’s clauses, while the rest overwhelmingly rejected the proposed amendments.”

Ruto on economy

During his State of the Nation Address on November 21, 2024, Ruto said that economic indicators pointed towards an economy in great shape.

“While we may not be where we would like to be, we are certainly not where we were two and a quarter years ago. At the time, the cost of living was substantially high, with prices of basic food commodities beyond the reach of many households,” Ruto said.

Ruto said that the Kenyan shilling had stabilized against the dollar from Ksh169 in February 2024 to the current Ksh129.

Ruto said that the 20 per cent reduction had helped in servicing external debts, restored confidence in the stock markets and created a healthy fiscal space for development projects.

He also indicated that inflation had dramatically dropped to 2.7 per cent from 9.6 per cent in 2022.

Amidst strong opposition to his tax proposals, Ruto revealed that KRA collections increased by 11.5 per cent in the year ended on June 2024.