ECONOMY

President-elect William Ruto has said addressing the current high cost of living will be his first agenda after he is sworn in as the 5th President of the Republic of Kenya.

Speaking during his first public address Monday after the Supreme Court of Kenya upheld his election, Ruto said he will begin having talks with government officials in what is expected to be around the rising cost of living.

“I want to commit that as soon as we are sworn into office, in fact beginning tomorrow, I will be working with the people in government offices so that by the time we are sworn in we will have work to do and begin the process of implementing our plan,” said President-elect Ruto.

Ruto assumes office at a time the rate of inflation has rising to a five-year high of 8.5pc in August from 8.3pc in July driven by higher food prices.

“Many people are asking me, when is the hustler fund going to be launched. Many farmers want to know when subsidized fertilizer will be available so that they can get on with the business of growing food for us and so that we can reduce the cost of living,” he said.

In recent months, the government has been forced to release subsidies to farmers in form of fertilizer and seeds to increase crop production as food prices soar.

The latest subsidy was on maize meal where Ksh 8 billion was released to millers to ease the price of unga by half after rising to more than Ksh. 200.

During the briefing, he said his administration has also committed to ensure pending projects by the current administration are completed.

Stalled projects in Kenya are estimated to be in the tune of Ksh 500 billion.

The administration is also targeting to implement the promise of setting up agro-processing industries and housing programme as outlined in the Bottom-Up economic model.

Already there are countries which have pledged to engage the new administration in bilateral relations.

“I congratulate Kenya’s President-elect William Ruto, who I look forward to working with to strengthen our UK, Kenya Strategic Partnership. Kenya and its leaders can be proud of the example it has set to the world: following a calm, peaceful and transparent democratic process,” said Vicky Ford, UK Minister for Africa, Latin America & Caribbean.

Other areas the President-elect and his deputy are seeking to address urgently include debt and unemployment.