STORY: Kenyan president reaffirms economic stability during Independence Day celebrations
SHOOTING TIME: Dec. 12, 2024
DATELINE: Dec. 13, 2024
LENGTH: 00:01:44
LOCATION: Nairobi
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of military parade
2. various of celebrations
3. SOUNDBITE (English): WILLIAM RUTO, Kenya's President
4. various of celebrations    

STORYLINE:

Kenya's economy is stable and the government has laid a solid foundation for inclusive economic transformation, President William Ruto said on Thursday.

Ruto made the remarks while celebrating Independence Day, marking 61 years since Kenya gained independence from Britain on Dec. 12, 1963.

SOUNDBITE (English): WILLIAM RUTO, Kenya's President
"I readily concede that we are yet to reach the destination of our aspirations because we have not yet delivered fully on all our commitments. But having said that, it is also a fact that we are no longer where we were a year, let alone two years ago. We have moved beyond pledges and commitments and are now making progress in our implementation strategies."

The president said that the cost of living has decreased and inflation is at its lowest level in 17 years.

He attributed this to government efforts to supply farm inputs, such as subsidized fertilizer, which have sustained agricultural production. He said that Kenya is on course to achieve a food surplus after averting perennial hunger crises for three consecutive seasons.

While addressing the public on Thursday, Ruto underlined the success of government efforts in addressing unemployment, healthcare, and food security, saying that they are delivering tangible results.

Moreover, Ruto said that special economic zones and export processing zones have attracted 80 companies in the past two years, generating 14,000 jobs.

The World Bank said Tuesday that Kenya's economy is projected to grow by 4.7 percent in 2024, a slight downgrade from the earlier forecast of five percent.

The global lender attributed the slower growth to various challenges faced during the year, including the adverse effects of flooding. It also noted that economic growth is expected to stabilize at 5.1 percent in the medium term.

Xinhua News Agency correspondents reporting from Nairobi.
(XHTV)