The opposition coalition party, Azimio One Kenya Coalition has disparaged the performance of president William Ruto’s one year in office as dismal and disastrous.
The Azimio leadership led by party boss Raila Odinga the Kenya Kwanza administration as a grand disaster especially on matters economy that has seen drastic weakening of the Kenya shilling against both global and regional currencies.
“As the sun set on the first year of Kenya Kwanza, it is clear that no amount of oratory or extravagant claims can hide the harsh fact that we have had an extremely disastrous and difficult one year.” Azimio said through a statement.
They added that there is no reason whatsoever for Kenyans to believe that the next one year will be any better.
According to the opposition, the Kenya Kwanza administration was using propaganda to manage the country’s economy.
The opposition noted that the high cost of living, and more specifically, high prices of basic commodities have exposed the truth behind the country’s ailing economy.
“As we begin the second year of Kenya Kwanza regime, it is clear we are in a reckless race to the bottom.” The statement added.
They also cited the increase in fuel prices as one of the indicators that the lives of Kenyans are still deteriorating.
“We hasten to add that these price rises were before the developments of fuel prices on September 15. Given the rise in fuel after last night, we estimate that these prices will go up by up to 70 per cent.” They said.
About the Kenya shilling, the opposition noted that the shilling has dropped in value against major currencies in the region and the world.
“The shilling has lost a quarter of its value against the US dollar in one year. The shilling lost 20 per cent of its value against Tanzania and Uganda shilling.” Raila noted.
For instance, in August 2022, the Kenya shilling was trading at 120 for one US dollar, a year later, the shilling is trading at 150 against one US dollar.
On the issue of managing the public debts, Azimio faulted the government on expenditure and additional borrowing.
“Kenya Kwanza increased spending by Sh400billion; spending money it does not have and raising it by extorting more taxes from suffering Kenyans.” They added.
In addition, Azimio faulted President William Ruto for not reducing the public debt as he promised when he took over power.
“The result has been that micro and small businesses are struggling, defaulting, and folding up while the larger private sector is at best, stagnating or equally folding up. In the last one year, the proportion of micro and small businesses defaulting on loans has increased by 17 per cent.” Azimio noted.