What: Launch of East Africa Regional Economic Outlook 2022

Who: African Development Bank Group, East Africa Regional Office

When: 28 October 2022 | 14:00 hrs East Africa Time (GMT+3)

Where: Virtual - register here in advance to cover the event

The African Development Bank's East Africa Regional Economic Outlook 2022 reviews the economic performance of 13 East African countries over the past year with short- to medium-term projections. The countries are Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania, and Uganda.

Overall, East Africa recorded a robust economic recovery in 2021, but most countries are yet to achieve their pre-Covid growth levels. The report projects that the region's GDP growth will moderate at 4% in 2022 before recovering to 4.7% in 2023, buoyed by the reopening of the economies.

The projected strong growth is not homogenous across the region, with top performers being Ethiopia, Kenya, Rwanda, Seychelles, Tanzania, and Uganda. However, the Russia/Ukraine war, which has increased global food and energy prices, could further slow the economic recovery. The risks of debt distress, widening fiscal and current account deficits, and limited economic diversification persist.

The document discusses several policy interventions needed to boost East Africa's post-Covid-19 recovery and build resilience against emerging vulnerabilities. It provides short -, medium-, and long-term policy options for supporting climate resilience and a just energy transition.

The virtual launch event targets policy makers in the region, development partners, private sector champions, media, national authorities, and academia, among others.

There will be a Q&A with journalists after the launch.

The report will be made available at the end of the launch.

For additional enquiries and interview requests, please contact:

Joyce Mulama, Communication, African Development Bank, East Africa region, j.mulama@afdb.org, +254 724 975 170