Cabinet Secretary for National Treasury John Mbadi has defended the government’s economic performance, stating that Ruto administration has stabilised the country’s finances, restored investor confidence and averted a near-collapse of the economy inherited in 2022.

Speaking at the weekend during a stakeholder engagement forum in Eldoret, Uasin Gishu County, Mr Mbadi said the government took office at a time when the Treasury was struggling to pay civil servants, service public debt and secure adequate foreign currency.

The cabinet secretary revealed that salaries were being paid late and that the International Monetary Fund (IMF) had listed Kenya among six African countries at high risk of default.

 “Five of those countries have since defaulted. Kenya did not and that was not by miracle,” Mbadi said.

The minister defence the government did not erase questions about astronomic rise in corruption under President William Ruto’s watch.

He observed that early last year the shilling weakened to historic lows because markets doubted the government’s ability to repay the $2 billion Eurobond that matured in 2023. The cabinet secretary credited the Ruto administration with restoring confidence and managing the repayment successfully.

He also pointed to improvements in credit ratings and investor perception, noting recent upgrades by Standard & Poor’s Global Ratings (S&P), as well as a global survey ranking Kenya as Africa’s top investment destination.

“Investor confidence is back and the world now sees Kenya as a stable, reliable market,” he noted.

Despite the progress, the cabinet secretary said the country’s fiscal space remains tight due to competing needs in education, health, water and social protection.

To ease pressure on the exchequer, he said the government intends to attract private-sector financing for major roads through a National Infrastructure Fund, a model used successfully in several advanced economies.

He praised President William Ruto’s development agenda across all regions, citing timely release of county funds, consistent NG-CDF disbursements and strengthened public financial accountability as signs of a more efficient system.

Mbadi further underlined gains in the health sector, noting that Kenya’s Universal Health Care roll-out has attracted renewed support from the United States, which has agreed to channel its health-sector funding directly through Kenya’s National Budget.

He also cited successful negotiations with China that have saved the country $215 million annually through restructured SGR loan terms.

The minister told Uasin Gishu residents and the wider region to support the ongoing reforms, saying the economy is on a recovery path and that Kenya requires bold, decisive leadership to sustain the momentum.

Uasin Gishu Senator, Jackson Mandago, rallied residents to fully embrace the new e-Government Procurement (e-GP) system.

He said the digital platform will enhance fairness and transparency in public procurement, warning that those opposing it are the same individuals who previously hindered equal access to opportunities.

“We must implement e-GP. Those fighting it are the same people who have been eating alone and don’t want opportunities shared with others,” Mandago said.

Also present during the event were Permanent Secretary for The National Treasury Chris Kiptoo, Member of Parliament for Kesses Constituency Julius Ruto and Member of Parliament for Awendo Constituency Walter Owino, among other leaders.

• A Tell Media / KNA report / By Fredrick Maritim