Kenya is now the sixth-largest economy in Africa, surpassing nations like Ethiopia and Angola by God’s grace, according to President William Ruto.
On Tuesday, November 4, 2025, Ruto cheerfully told Kenyans residing in Qatar that despite international financial difficulties, the nation’s economy has stabilized over the past three years.
This follows Ruto’s claim that Kenya’s economy was ranked as the sixth largest in Africa by the IMF a month ago. According to Ruto, the country’s economy is headed in the right direction.
The President further stated that inflation has decreased to 4.6% this month from 9.6% three years ago.
The President also mentioned that the Kenyan shilling has appreciated, shifting from 165 to approximately 128 against the US dollar.
“Our economy has stabilised over the past three years. Inflation has decreased from 9.6 percent to 4.6 percent this month.
“Our dollar exchange rate improved from 165 to 129, 128… I’m not sure if that’s beneficial for you all,” Ruto remarked as Kenyans in Qatar cheered.
The Head of State also highlighted that Kenya’s foreign exchange reserves have consistently increased, climbing from 5.7 billion dollars in 2022 to 12 billion dollars at present.
He stated that this growth has enabled the government to tackle the dollar shortage that had impacted importers and other vital sectors.
“At least we can resolve the dollar issue,” he added.
Kenya defies economic challenges
Ruto further noted that in 2022, Kenya was one of six nations that international financial analysts had forecasted would default on their debts.
However, through what he termed as divine grace and robust policy initiatives, Kenya was the only country that managed to avoid default.
“For those who keep an eye on global financial developments, Kenya was listed among the six nations that were widely expected to default in 2022.
“However, the positive news, thanks to divine intervention, is that out of those six countries anticipated to default, five did, while Kenya stood firm,” the President stated.
He further confirmed that the International Monetary Fund (IMF) had recently published a report indicating that Kenya’s economy has surpassed that of Ethiopia and Angola, officially ranking it as the sixth-largest economy in Africa.
Ruto concluded by reassuring Kenyans living abroad that the government will persist in implementing effective policies to maintain a robust, stable, and inclusive economy.
