Friday, November 15, 2024 - Kenyans across the political divide have blasted President William Ruto and his Cabinet for claiming the economy has stabilized, despite widespread concerns over the lack of money in circulation.
During a Cabinet meeting on Thursday, President Ruto was briefed on the declining inflation rate, which dropped from 9.6% in September 2022 to 2.7% in October 2024.
"This is the lowest
inflation rate since 2007 during President Mwai Kibaki's tenure, and aligns
with the target set in the Kenya Kwanza Manifesto," read the Cabinet
dispatch in part.
The announcement angered many Kenyans, who questioned how the economy could be considered stable when businesses are struggling with low sales due to a lack of money in circulation.
Here are some comments from
Kenyans.
"The inflation they are
bragging with is because there is no or little money in circulation,”
Dennis Kinyua said.
“Someone explain to me how
Inflation is dropping in Kenya yet businesses and individuals are complaining
about lack of money in circulation. My economics is not making sense based on
monetary policy,” Wafula Wanyama stated.
"Instead of issuing a
press release about your meeting, tell us the concrete steps you plan to take
to address the challenges," Gatimu KL said.
The Kenyan DAILY POST
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