East Africa: Best Economic Performance of the Continent - African Development Bank's Economic Outlook 2018
- Publication Date:
- 9 March 2018
- East Africa, Economy, Business and Finance
According to Nnena Nwabufo, the Bank's Deputy Director General for the East Africa Region, the East African Economic Outlook highlights a number of policies that member countries must implement to transform their economies. East Africa, with thirteen countries, recorded the continent's best economic performance with a GDP growth rate of 5.9% in 2017 −a rate much higher than the growth recorded by the other regions of the continent, and above the continental average of 3.6%. The good performance of the East African sub region is stimulated by six countries: Ethiopia, Tanzania, Djibouti, Rwanda, Seychelles and Kenya. The outlook remains positive for 2018 and 2019, with growth expected to continue, reaching 5.9% in 2018 and 6.2% in 2019.
As a leading African institution, the African Development Bank was the first to provide headline numbers on Africa's macroeconomic performance and outlook in 2018 by launching this ... Read more »