East Africa recorded Africa’s best economic performance in 2017, according to the 2018 African Economic Outlook, a flagship publication of the African Development Bank (AfDB).
The region, with thirteen 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 was stimulated by six countries: Ethiopia, Tanzania, Djibouti, Rwanda, Seychelles and Kenya.
The outlook remains positive for 2018 and 2019, with growth expected to continue, reaching 5.9% in 2018 and 6.2% in 2019.
North Africa ended 2017 with a 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.
