Kenya, the biggest economy in East Africa will see its economy grow at the slowest rate in East African Community (EAC) compared to its peers in the region.
DRC will have its economy grow by 6.7 percent (to grow to 4% in 2024) followed by Rwanda at 6.3 percent (to grow to 7% in 2024), Tanzania at 5.2 percent (to grow to 6.1% in 2024).
Kenya has been placed fourth – whose economy is projected to grow by 5 percent in 2023 (to grow to 5.3% in 2024).
This is according to the economic growth forecast for Sub-Saharan Africa by the International Monetary Fund (IMF) in its World Economic Outlook report published Tuesday.
Sub-Saharan Africa’s economy is projected to grow by 3.3 percent down from the 4 percent projection in April this year.
South Africa, whose economy is hobbled by record power cuts, will grow just 0.9% this year.
Russia’s invasion of Ukraine, after COVID-19 had already dealt the global economy a heavy blow, sent food, fuel and fertiliser prices soaring in Africa last year.
