President William Ruto has attributed the effects of the Covid-19 pandemic, geopolitics and prolonged drought to the shambling economy of the country.
Speaking during the State of the Nation address at Parliament, the head of state said the global supply chain disruptions significantly raised the inflation and interest rate, which affected the economy.
"Low agricultural investment and prolonged drought led to food shortage making Kenya a net importer of food in a volatile international market," he said.
"The Covid-19 pandemic, coupled with geopolitical conflict significantly raised the interest rate."
Ruto added that as the harsh conditions arose, the Kenya Kwanza government was voted in, being entrusted to generate effective solutions to immediate problems.
"The transformation of our economy is important and an agent. Our duty as leaders is to listen keenly and comply with the needs," he added.
The head of state said for Kenya's economy to be improved, the law and order chain must align, as judicial integrity, efficiency, and independence must be protected.
"Our police service and other actors must be professional, independent, impartial and must be inspired by the principles of governance," he said
The pronouncement comes at a time when the country is experiencing a high cost of living and an increase in fuel prices among other factors.
A survey conducted in late July by Tifa research firm showed that 79 per cent of those polled thought that the ever-rising cost of living was driving the country in the wrong direction.
Aside from the address, the Kenya Kwanza administration has been at the forefront assuring Kenyans that they are working towards ensuring the cost of living goes down, but urge to be given time in that regard.
“My government will lower the cost of living,” President Ruto said on September 13, 2023, after being sworn in.