Kenya-East Africa-Economy

East Africa maintains highest GDP in Africa

APA-Nairobi (Kenya)

East Africa continues to have the highest GDP growth on the continent, even though the region’s economic growth is expected to ease slightly, from 6.8 percent in 2017 to 6.3 percent in 2018, according to the latest report released on Thursday by the Institute of Chartered Accountants in England and Wales.

Within the region, Ethiopia (7.8percent), Rwanda (7.1percent), and Tanzania (6.7percent) all perform above average, while the drags on growth are Burundi (0.1percent) and especially war-torn South Sudan (-3.8percent).

Those at the bottom of the growth rankings illustrate how large an effect political instability can have on economic prospects, noted the report.

Kenya, emerging from political uncertainty after elections last year, should see growth rebound to 5.4 percent this year after GDP growth dropped to 4.9 percent in 2017 (between 2012 and 2016 growth averaged 5.5 percent).


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