Economy Kenya only economy in East Africa with an upward economic growth reviewNairobi City Skyline. FILE PHOTO | NMGBy JULIANS AMBOKOMore by this AuthorKenya is the only economy in East Africa whose projected economic growth for 2023 has been revised upwards by the International Monetary Fund (IMF) in its latest review, giving Nairobi a major confidence boost as it fights an economic crisis. Burundi’s projected growth for 2023 has suffered the largest slash of 80 basis points to 3.3 percent followed by Rwanda’s whose projected growth has been downgraded by 50 basis points to 6.2 percent. Tanzania is the only economy in East Africa whose growth projection for 2023 remains unchanged, at 5.2 percent, in the two forecasts. In its latest forecast, IMF has also painted a grim picture as far as the cost of living in East Africa is concerned.

Source: The North Africa Journal April 12, 2023 21:48 UTC