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    Ethiopia-Economy

    East Africa is Africa's best economic performer - Report

    APA-Addis Ababa (Ethiopia)

    The East Africa sub region recorded Africa's best economic performance in 2017, the 2018 African Economic Outlook reported on Wednesday.

    The flagship publication of the African Development Bank said the region, with 13 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 namely, Ethiopia, Tanzania, Djibouti, Rwanda, Seychelles and Kenya.

    The outlook remains positive for the region in 2018 and 2019, with growth expected to continue, reaching 5.9% in 2018 and 6.2% in 2019.

    North Africa ended 2017 with growth of 4.9% of real GDP, South Africa at 1.6%, West Africa at 0.5% and Central Africa at 0.9%, according to the report.

    The African Economic Outlook provides short-to-medium term forecasts on the evolution of key macroeconomic indicators for all 54 regional member countries, as well as analysis on the state of socio-economic challenges and progress made in each country.


    MG/afm/APA

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