Ruto Claims Slower Debt Growth Under His Administration Amid Rising Public Debt Figures

President William Ruto has defended his administration’s fiscal record, asserting that Kenya has registered lower debt growth under his leadership compared to previous regimes.

Speaking during a development tour across Kericho and Bomet counties, the President stated that his administration inherited a severely indebted economy in 2022 but has successfully stabilized national finances. Defending his borrowing trajectory, President Ruto contrasted his fiscal decisions with past administrations, arguing that debt expansion under his watch remains significantly lower than that of his predecessors. He highlighted falling inflation rates and a stabilized foreign exchange market as direct evidence of economic recovery, emphasizing that the overall national economy is on a firmer footing.

Despite these assertions, official treasury figures indicate that Kenya’s national debt stock has continued an upward trajectory. Public debt currently stands at approximately KSh 13 trillion, up from roughly KSh 8.7 trillion in September 2022 when President Ruto assumed office—representing a KSh 4.3 trillion increase over the period. Administration allies have countered that fiscal performance should be evaluated starting from the 2023/2024 financial year, which marked the implementation of the Kenya Kwanza administration’s first full budget cycle.

Turning his attention to political opponents during his four-day tour of the Rift Valley region, President Ruto criticized opposition figures, accusing them of relying on divisive rhetoric and ethnic politics rather than presenting alternative policy proposals. He urged citizens to evaluate political leaders based on their delivery records and concrete development agendas as he launched local infrastructure initiatives, including a KSh 1.5 billion rural electrification project in Kericho County aimed at connecting 16,000 households to the national grid.