President William Ruto has announced that Kenya’s foreign reserves have hit a record $10.3 billion, marking the first time in the country’s history that such a milestone has been achieved. Speaking on Tuesday in Nairobi, the President said the achievement is a clear indication that the country is on the right economic path.
“For the first time in the Republic of Kenya, we have reserves of $10.3 billion. It does not come easy,” said Ruto, highlighting that the improved reserves are a result of deliberate economic strategies and contributions from Kenyans across various sectors.
Foreign reserves are liquid assets held by the Central Bank, including foreign currencies and deposits from commercial banks, used to stabilize the national currency and support international trade. President Ruto commended the Central Bank of Kenya for its leadership and focus in managing the economy, ensuring exchange rate stability and controlling inflation.
“For over a year, our exchange rate has been stable. Inflation has been managed,” he noted, crediting Kenya’s farmers for playing a key role in reducing inflation by increasing food production. He pointed out that inflation has dropped from 9.6 percent in 2022 to 3.8 percent in 2025, largely due to improved food security.
The President praised the collective efforts of Kenyans in sectors such as health, construction, and agriculture, calling them the “true heroes” who keep the wheels of the economy turning. Their contributions, he said, are helping to lay the foundation for long-term economic growth.
Kenya is also projected to overtake Ethiopia as East Africa’s largest economy in 2025, according to the International Monetary Fund (IMF). The IMF forecasts Kenya’s GDP to rise to $132 billion, compared to Ethiopia’s $117 billion, driven by stronger financial and agricultural performance.
President Ruto reiterated his administration’s commitment to steering Kenya toward a more stable and prosperous future, assuring citizens that continued reforms and strategic investments will sustain the current momentum.
