The Global Economic Growth
Prospect report released on Tuesday highlighted that Rwanda will lead East
Africa in GDP growth for the remainder of 2024.
Further projections indicate
that Uganda's economic growth is expected to reach 6.0 per cent in 2024,
positioning it ahead of Kenya.
Tanzania is anticipated to have
a growth rate of 5.4 per cent, making it the third-highest among East African
countries in terms of GDP growth for 2024.
Kenya is expected to come in at
a staggering fourth position where the country’s GDP will average at 5.0
percent.
Rwanda’s GDP which is expected
to be 7.6 per cent for the rest of the year has been the highest in the region,
with it hitting a record high of 10.9 in 2021.
The Democratic Republic of
Congo, however, is ranked second in East Africa tying with Uganda at a 6.0 GDP
rate.
However, Somalia and Burundi are
expected to lag behind at 3.7 and 3.8 respectively with South Sudan tailing the
pack at a rate of 2.0
Further, the World Bank in
its report for Sub-Saharan countries explained that non-resource-rich
countries are expected to maintain their growth trajectory in 2024.
Further, the global bank has
attributed the decline of East African GDPs to the recent flooding
and devastating weather patterns witnessed in the region.
The Kenyan DAILY POST
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