What William Ruto's Presidency Would Mean for Kenya's Economy

William Ruto has been declared the winner of Kenya's 2022 presidential election. The close results have been queried, raising the risk of a prolonged political transition. But, if cleared, Ruto is set to inherit an economy that's not in great shape. The unemployment rate is running high - a fact that fuelled youth resentment against the government of outgoing president Uhuru Kenyatta. Kenya's economy generates less than 200,000 formal jobs for the over one million young people who join the labour market every year. The country is also grappling with huge public debt and a high inflation rate.

While Ruto has promised "bottom-up" economic transformation, his role as deputy president in the previous administration provides little indication of his ability, or will, to push through transformative economic policies.

Ruto's victory means Kenyans face more of the status quo. He, and the coalition behind him, seem to be firm believers in the market economy where the government hardly intervenes in production and price setting, write Kathleen Klaus, Oscar Gakuo Mwangi and Xn Iraki for The Conversation.

Meanwhile Capital FM reports that the Kenya Kwanza Alliance is set to have its inaugural meeting of elected leaders in the just-concluded general election that will bring together governors, members of the national assembly, women representatives and senators on August 17, 2022. The National Council of Non-Government Organizations has urged Ruto to reach out to predecessor Uhuru Kenyatta and his main rival in the election Raila Odinga, while emphasising the need for the three leaders to reason together for the good of the country.

On the other hand, the Supreme Court has made elaborate plans to receive any petition against the declaration by the electoral commission on the final presidential results.