• Monday, 23 December 2024
Ruto Pinpoints Uhuru Mistakes That Messed Economy While Comparing Him with Kibaki

Ruto Pinpoints Uhuru Mistakes That Messed Economy While Comparing Him with Kibaki

President William Ruto has thrown shade at his predecessor in a sarcastic tweet he sent on Sunday, January 14.

Ruto, while comparing Uhuru Kenyatta and the late Mwai Kibaki, claimed the former in the equation ruined the economy.

He suggested that Kibaki stabilised the economy in his second term but Uhuru would plummet it throughout his 10-year tenure.

 

The president referenced a graphic presentation showing the country's tax-to-GDP ratio between 2007 and 2020.

Kibaki had maintained the ratio between 22% and 23% at the time he left office.

As shown in the presentation, a decline was experienced in Uhuru's regime, as the ratio stood at 14% by 2020, indicating the dismal performance of the economy.

It is known that the higher the ratio, the better the country's financial position is; it also indicates a country would comfortably fund its expenditures.

According to Ruto, Uhuru's style of leadership is why Kenya's economy still limps to date.

"This is where the problem lies," he said.

The operatives in the current regime have constantly faulted Uhuru for denting the economy through the procurement of debts.

Economist David Ndii in an instance warned that the Kenyan economy was going to shrink.

In a statement via X, Ndii, who sits in the President’s Council of Economic Advisors (CEA), accused the former president of creating his legacy through debts at the expense of producers.

Ndii pointed out that Kenyans will have to focus on production amid the struggling economy.

“This economy is going to shrink. The other day someone who deals in high-end cars asked me when I think the economy would turn around. I gave him my honest opinion, told him his line of business was unlikely to recover and he might want to look into a production-oriented sector,” he stated.

The economist warned businesses depending on the government to prepare for disruptions saying tenderprenuers would have to reinvent or close down.

“If you are in a government-facing or dependent business, prepare for disruption. The facilities gaming the NHIF will have to shape up or ship out. Most high-end entertainment joints where tenderpreneurs blow 100k a night will have to reinvent or close,” Ndii stated.

According to Ndii, the Kenyan economy is struggling because of debts and the current administration is weaning the economy from debt consumption addiction to production.

“But you said you have a plan? Yes, we do. It is about weaning the economy from debt consumption addiction to production. We are implementing it. The withdrawal symptoms mean it's working,” Ndii added.

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