Kenya and Tanzania will power economic growth in the East African region, which is expected to record the highest economic growth rate in Africa.

The African Development Bank quarterly economic report says the East Africa region will grow fastest in Africa at 5.4% this year then accelerate to 5.8% in 2018.

Growth in the East Africa region will be driven by strong domestic demand and high public infrastructure spending.

Kenya is expected to grow by 5.1% while Tanzania will expand by 7.2% this year.

Despite a major slowdown in commodity prices, Africa retained her position as the second-fastest growing continent globally recording an average GDP growth of 2.2%, behind South Asia.

The East African region powered this growth with a 5.3% economic expansion with the North African region coming second at 3.3%.

The growth was driven by Kenya at 5.9% and Ethiopia at 6.9%.

The African Development Bank quarterly economic report says the East African region will anchor growth in Africa growing by 5.4%.

The bank says the expansion will be boosted by capital investment and strong domestic expenditure.

However, the bank has also downgraded economic growth for Africa saying that poor weather will slow growth to 3%.

The North African region is expected to grow by 3.1% and 3.6% in 2017 and 2018 respectively, with expected pick up of growth in Morocco of 4.5% in 2017 and 3.9% in 2018.

The bank however warns that continued political uncertainties and reduced oil production in Libya continue to drag growth in the North Africa region.

West Africa is expected to record improvements in growth to 2.5% and 4% in 2017 and 2018 respectively mainly attributed to improvements in oil production in Nigeria and rising global commodity prices.

Improved mining prices will power growth in Southern Africa to 2% and 2.3% in 2017 and 2018 respectively

Source: Kenya’s Watching 

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