Ruto: We have $10.3 billion in reserves

President William Ruto speaking on June 3, 2025 / PCS

President William Ruto has announced that the country has 10.3 billion dollars in reserves.

The President said that this has happened in Kenya for the first time.

“Reserve money" in economics generally refers to the liquid assets held by a Central Bank, including currency in circulation and reserves held by commercial banks. 

These reserves are used to facilitate payments and transactions within the economy, as well as to maintain financial stability.

Speaking on Tuesday in Nairobi, Ruto affirmed that the country is heading in the right direction because inflation is being managed.

“For the first time, in the Republic of Kenya, we have reserves of 10.3 billion dollars. It does not come easy. For over a year, for the first time, our exchange rate has been stable. Inflation has been managed,” he said.

The President commended Kenyans from across sectors who have made progress in their way, enabling the government to have a reserve.

“The biggest contributor to inflation is the cost of food. The fact that our farmers have gone out of their way to produce food for the nation has helped to reduce inflation significantly,” he said.

The President said that the contributions have reduced inflation from 9.6 per cent in 2022 to 3.8 per cent in 2025.

He said, this has been made possible by people going out of their way in health, construction sites, and farming, among others.

The President said that the heroes of Kenya are the ones who turn the wheels of the economy, making an impact in the country.

The President thanked the Central Bank of Kenya for their leadership in ensuring the country’s financial status is in check.

“Congratulations, you have led with a lot of focus; we continuously consult; I have told you where we should go."

The President has on several occasions affirmed that the country is moving in the right direction in stabilising its economy.

This is even as the country is on track to become East Africa’s largest economy in 2025, overtaking long‑time regional leader Ethiopia, according to the latest International Monetary Fund projections.

While Ethiopia’s GDP is forecast at about $117 billion next year, Kenya’s output is expected to reach roughly $132 billion.