Mid-term growth for East Africa projected highest in Africa for 2023-24

in #afric • last year

East Africa will register the highest regional economic performance on the continent in 2023 and 2024, with growth figures at over 5 percent, according to the newly published African Development Bank 2023 East Africa Economic Outlook. The report, launched on Thursday 27 July, projects mid-term economic growth in the region to accelerate to 5.1 percent in 2023 and 5.8 percent in 2024, outpacing all the other African regions. This will be largely driven by growth in Rwanda, Uganda, Ethiopia, Kenya, Djibouti, and Tanzania.

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