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Find all the economic and financial information on our Orishas Direct application to download on Play StoreAccording to initial findings in an African Development Bank (ADB) report, East Africa recorded a robust economic recovery in 2021. But most countries have not yet reached their pre-Covid-19 growth levels.
Initial projections show that GDP growth in the region will moderate to 4% in 2022, before recovering to 4.7% in 2023. It is supported by the reopening of economies. According to the ADB, the strong growth forecast is not homogeneous across the region. Also, the war between Russia and Ukraine, which has caused global food and energy prices to rise, could further slow economic recovery. This economic recovery could be slowed down by the war between Russia and Ukraine, which has caused world prices to rise.
In fact, over the past year, the African Development Bank's 2022 Regional Economic Outlook for East Africa looks at the economic performance of 13 countries in the region with short and medium term projections. These countries include Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania and Uganda.
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