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Browsing: AfDB East Africa economic outlook
- AfDB projects mid-term economic growth across EAC will accelerate to 5.1% in 2023 and 5.8% in 2024. This will be the highest growth area in Africa.
- The region will largely be powered by growth in Rwanda, Uganda, Ethiopia, Kenya, Djibouti, and Tanzania.
- East Africa’s real GDP is riding on a strong services sector that contributed almost 50% of the economic growth in 2022.
According to the newly released African Development Bank economic outlook, the East African Community (EAC) economies will post the highest regional economic performance on the continent in 2023 and 2024, with growth rates of over 5 percent.
AfDB’s 2023 East Africa Economic Outlook projects that EAC’s mid-term economic growth will accelerate to 5.1 per cent in 2023. The region will further post 5.8 per cent economic expansion in 2024, outpacing all other African regions. The region will largely be powered by growth in Rwanda, Uganda, Ethiopia, Kenya, …
