Stimulated by six countries including Ethiopia, East Africa recorded Africa's best economic performance in 2017

Addis Ababa, March 14, 2018 (FBC) - East Africa sub region 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 is 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 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.

Posted by Amare Asrat