Kenya's President William Ruto defended his government's Tough Economic Measures in his State of the Nation address, stating they were necessary to address the country's financial challenges. These measures include the removal of food and fuel subsidies and the implementation of new taxes. Kenya is facing depleted government coffers, skyrocketing inflation, and a plunging currency. The country has accumulated over $66 billion in debt, equivalent to around two-thirds of its GDP. Ruto acknowledged that tough decisions were needed to stabilize the economy and announced progress in debt repayment, with plans to settle a $300 million eurobond debt installment next month.
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