President William Ruto delivered a triumphant message during the Jamhuri Day celebrations at Uhuru Gardens on December 12, declaring that Kenya is officially out of the economic danger zone.
The president attributed this achievement to the sacrifices made by his administration.
Ruto reflects on 60 years of progress
President Ruto emphasised the significant progress Kenya has made over the last six decades, acknowledging the undeniable strides from the nation's humble beginnings.
He paid tribute to the sacrifices of Kenya's forefathers, who fought for the freedom celebrated today.
The president called for gratitude, celebrating the legacy of those who came before and contemplating the contributions needed to accelerate future progress.
In the political realm, Kenya has evolved from a single-party system to a multi-party democracy, transitioning from violence and intolerance to orderly and peaceful elections.
Kenya's economic challenges & unfinished business
Despite political progress, President Ruto acknowledged that economic challenges persist.
The savings rate as a percentage of GDP is lamentably low, and unemployment, especially among the youth, remains a pressing issue.
He called upon the current generation to take up the task of advancing prosperity as a contribution to perfecting Kenya's national sovereignty.
"In our democratic and political journey, we have made tremendous sacrifices and progress from a single party to a muli-party, from violence and intolerance to orderly and peaceful elections. However, we have not made as much progress with our economy.
"Our saving as a percentage of GDP is dismal, many especially young people dont have jobs. Our generation must therefore take up the unfinished job of actualizing prosperity as our contribution to perfecting Kenya's national sovereignty, he said.
Ruto justifies painful sacrifices with economic stability
President Ruto highlighted the great patriotism and unity displayed by Kenyans in the past year.
"Together, difficult decisions were made to steer Kenya away from the edge of catastrophic debt distress and towards a new economic direction. The sacrifices, though painful, were deemed necessary for economic stability," he said.
Proudly announcing the positive outcomes, President Ruto confirmed that Kenya is now safely out of the danger of debt distress.
"Proudly, these sacrifices have paid off. I can now confirm, without fear of any contradictions, that Kenya is safely out of the danger of debt distress and that our economy is on a stable footage.
He revealed that inflation has dropped to 6.8 percent from a high of 9.2 a year ago. Additionally, Kenya's GDP has grown at a rate of 5.4 percent, positioning the country as the 29th fastest-growing economy globally, according to the World Bank.
Jamhuri Day holds a special place in Kenya's calendar, observed on December 12 each year. The Swahili word 'Jamhuri' translates to republic.
This national holiday marks the official date when Kenya gained independence on December 12, 1963, six months after achieving internal self-rule on June 1, 1963, from the United Kingdom.