Browsing: East Africa Economic Outlook

East Africa economies are seen to outshine growth of other regional blocks this year due to the fall in the price of oil and commodities that has hit the North, Southern and western countries.

In its latest economic update, the Institute of Chartered Accountants in England and Wales (ICAEW) has projected that East African economies will post a GDP growth rate of 6.3 per cent this year.

The GDP expansion is higher than the projected estimated growth in North at 2.8 per cent and West Africa at 3.4 per cent.
Southern Africa is expected to record a slow pace of 1.3 per cent, due to the region struggles with policy uncertainty, rainfall deficit, effects of cyclones and power rationing.

The regional director for the Middle East, Asia and Africa at ICAEW, Michael Armstrong said that East African economies like Kenya and Tanzania are shielded from global shocks as they are …