Nairobi, Jan 1 (NationPress) Kenyan President William Ruto has asserted that the reforms introduced by his administration are projected to yield enhanced economic performance, greater employment opportunities for the youth, and elevated incomes for farmers and entrepreneurs.

In his end-of-year address delivered in Kisii, western Kenya, on New Year's Eve, Ruto emphasized that the government has effectively established a robust foundation to accelerate the nation's socioeconomic development in 2025. He encouraged Kenyans to welcome the New Year with faith, hope, and determination to pursue greatness for the country.

"The advancements we have achieved have positioned us decisively on a trajectory of swift and sustainable growth. Consequently, we can expect stronger economic performance, an increase in job opportunities for our youth, and higher incomes for farmers and entrepreneurs," Ruto remarked.

He highlighted that Kenya is outpacing global trends, with its gross domestic product surging by 5.6 percent in 2023, placing the nation among the world’s fastest-growing economies. "We anticipate that more investments will mature in 2025, leading to substantial growth in our manufacturing sector and a rise in exports," he added.

Ruto commended the resilient Kenyan spirit, which has withstood economic instability, climatic challenges, and global inflationary pressures. He noted that despite these challenges, the nation has continued to progress significantly in critical domains such as food security, healthcare, and education.

The president mentioned that reforms in both basic and higher education would yield positive outcomes, injecting new energy and focus into the entire educational sector. The Kenyan shilling, which started the year on a weak note, has notably strengthened, climbing from 165 shillings per US dollar in February 2024 to 129 shillings by December 31, 2024.

Inflation, a vital economic health indicator, has decreased from 9.6 percent in September 2022 to just 2.8 percent in November 2024, marking the lowest level in almost two decades. Additionally, foreign exchange reserves have increased by 2.4 billion US dollars, now totaling 9.5 billion dollars, providing a five-month import cover and shielding the Kenyan economy from external shocks, as noted by the Kenyan leader.

Ruto outlined an ambitious plan to maintain and expand upon these successes in 2025, with priorities that include strengthening manufacturing and export capabilities, enhancing food security and agricultural productivity, improving access to quality healthcare, and creating opportunities for youth through education and job creation.

He mentioned that the universal healthcare initiative, known as Taifa Care, will significantly alleviate household burdens by lowering medical expenses and providing enhanced benefits through a streamlined, inclusive, and high-quality public healthcare system, as reported by Xinhua news agency.

Ruto also reassured Kenyans that subsidized fertilizer is readily available in stores, emphasizing the objective of achieving higher yields from every crop, thus ensuring greater rewards for farmers and food security for all Kenyans.