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Kenya

Ruto’s fiscal gamble – can he break the debt trap by 2027?

Government looks to China and the UAE for funding as growth and revenues fall short and it bets on a pre-election spending boom

At the heart of President William Ruto’s calculus ahead of his re-election bid in 2027 is a bet that Kenya’s economy will have recovered enough to allow him to end austerity and finance a spending boom. Right now, that looks ambitious. Such are current economic conditions – slowing growth and rising youth unemployment – that Ruto’s approval rating has slumped to 9% according to a recent poll.

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