William Ruto Lists Economic Achievements Kenya has Made Since Becoming President in 2022
- President William Ruto used his 2025 Madaraka Day speech to declare that the nation is firmly on a path toward stability and prosperity
- He reported that Kenya’s economy has grown at an average annual rate of 5% since August 2022, outpacing both global and regional growth rates
- Ruto also touted progress in the Affordable Housing Programme in Mukuru Estate and ongoing projects across the country targeting 150,000 units
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Elijah Ntongai, a journalist at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan and global trends.
President William Ruto used his Madaraka Day address to highlight Kenya’s economic progress since he took office, declaring that the country is firmly on a path toward stability and prosperity.
Source: Twitter
Speaking at the 62nd Madaraka Day celebrations held on Sunday, June 1, Ruto delivered a speech laced with economic milestones, saying bold reforms and courageous policy decisions had begun to yield results.
"I speak to you today with the deep conviction that our country is firmly on the path to stability and progress. We have weathered turbulent times, navigated serious challenges, and through courageous policy decisions pursued with resolve, we have not only stabilised our economy but also charted a clear course to long-term prosperity," the president said.
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Kenya's economic growth
President Ruto said the country's economy has recorded an average annual growth rate of 5% since August 2022, outpacing both the global average of 3.3% and the regional average of 3.8%.
“Just last month, the International Monetary Fund projected our GDP to reach $132 billion (KSh 17 trillion), making us the largest economy in our region and the sixth-largest in Africa,” Ruto said.
Inflation has also dropped significantly, from a high of 9.6% in October 2022 to 3.8% in May 2025.
“This is well below our 5% target and brings welcome relief to households and businesses,” he added, attributing the trend to strengthened economic fundamentals and bold government reforms.
Kenyan shilling performance
Ruto also noted that the Kenyan shilling has rebounded impressively, appreciating by nearly 20% against the US dollar, from KSh 162 to KSh 129, making it one of the best-performing currencies globally.
Additionally, the Central Bank Rate has also been lowered from 13% to 10%, easing borrowing costs by reducing interest rates on loans and encouraging private sector growth.
Ruto also pointed to improved foreign exchange reserves, now standing at $10 billion, which he said have extended Kenya’s import cover from 2.5 months to four months.
Progress in affordable housing projects
Beyond macroeconomic indicators, the president also lauded his flagship Affordable Housing Programme, calling it a “powerful symbol” of Kenya’s socio-economic transformation.
“Just last week, I had the privilege of handing over keys to the first 1,080 social housing units in the new Mukuru Estate, Nairobi,” Ruto said, emphasising the programme’s role in addressing urban housing shortages and creating employment.
Source: Twitter
Ruto said that the government is on course to deliver 150,000 housing units under the Affordable Housing Programme, which have been under construction since September 2022.
"Very soon, I shall be handing over keys to new homeowners in Bahati and Elburgon in Nakuru County, Mabera in Kuria West, Emgwen in Nandi, Milimani in Kakamega and Vihiga counties, Nanyuki, and many other parts of the country," Ruto proclaimed.
Fastest growing economies in Africa
In other news, the African Development Bank Group’s 2025 Africa Economic Outlook projected that the continent’s economy will grow by 3.9% in 2025 and 4% in 2026, despite global uncertainties.
East Africa is set to lead regional growth at 5.9%, driven by Ethiopia, Rwanda, and Tanzania, while Kenya is notably absent from the list of Africa’s fastest-growing economies due to its high debt burden.
Twenty-one African countries are expected to post growth above 5%, with Ethiopia, Niger, Rwanda, and Senegal surpassing the 7% mark crucial for reducing poverty.
Proofreading by Jackson Otukho, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
