President William Ruto has stated that the price of electricity will not go up in the new year.
Speaking on Sunday January 1st at a church service in Siloam in Bamburi, Mombasa county, Ruto explained that his government had already removed the subsidies in August, 2022, hence, the electricity cost would not go up.
“We have already taken care of all the subsidies that we removed in August and we are going to ensure our manufacturers, our value-addition processors and all Kenyans including those on lifeline tariffs are taken into consideration as we review the tariffs going into the future,” said Ruto.
President Ruto disclosed that the government has been working on a formula to reduce the prices of all energy sources used by Kenyans in order to make them more affordable.
He furthermore denied allegations that the cost of living and unemployment rate would soar in the new year due to the elimination of subsidies and the increase in taxes.
“Contrary to the word being peddled around that there will be job losses and additional cost of living.”
“Let me assure you that we have made the right decisions on ensuring that we have a predictable platform on how to run the economy,” Ruto clarified.
He however stated that the government will not shy away from making tough decisions that will enable sustainable economic growth.
“I have taken a bold measure to ensure the country recovers economically by removing subsidies which were initially a strategy deployed for political expediency for that time because we had an election,” he said.
The head of state said that the subsidies were detrimental to the economy and caused the country to incur unnecessary debt.
He reaffirmed his goal of transforming Kenya into a country that relies mostly on tax revenue to support its budget and lessen its dependency on foreign debt.