Ruto Denounces Rise In Cost Of Living In 2023

President William Ruto on Sunday, January 1 dismissed reports that the cost of electricity and cost of living would increase in 2023.

Speaking during a church service at Siloam Ministry in Bamburi, Mombasa, the Head of State said that the removal of subsidies would not trigger an increase in costs.

He added that the new costs were implemented in September 2022 which led to the increase in prices towards the end of the year.

President William Ruto in Mombasa for New Year celebrations on December 31, 2022. /WILLIAM RUTO

"I would like to allay fears being spread that there will be an increase in the cost of electricity. I want to ensure the country that we removed subsidies in August.

"There will be no additional charges today or going into the future on electricity bills," the President declared.

He also denounced reports that the cost of living would jump in the new year as well as the rate of unemployment in the country.

"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," he clarified.

He added that the government is working towards lowering electricity tariffs in its efforts to prioritize low-income earners and manufacturers in the tariff review process. 

"In three months, we will have public consultation to ensure that we have tariffs that are affordable to those at the bottom of the economic pyramid and our manufacturers.”

On the subsidies, President Ruto stated that the removal of subsidies on basic commodities saves the country over Ksh25 billion monthly. 

He added that the government was also implementing a debt management plan to lessen the country's loan burden.

First Lady Rachel Ruto and Mombasa Governor Abdulswamad Nassir among other leaders accompanied the President to the New Year service.

President William Ruto, First Lady Rachel Ruto and Mombasa Governor Abdulswamad Nassir during a New Year service in Mombasa on January 1, 2023. /PCS