Ethiopia is now the fastest-growing country in the region: WB
(EBC; October 12, 2017) - Ethiopia, whose economy recently overtook Kenya's, is now the fastest-growing economy in sub-Saharan Africa, according to a new World Bank report.
This means Ethiopia's economy will further stretch its lead on Kenya's even as the latter grapples with economic headwinds, including heightened political temperatures that have left investors jittery.
"Ethiopia is likely to remain the fastest-growing economy in the region," noted the Africa's Pulse Report released Tuesday.
The International Monetary Fund (IMF) projects Ethiopia's economy to grow by 8.5 per cent this year, three percentage points higher than Kenya's, which is expected to grow by five per cent.
IMF noted the growth came about despite the expected slowdown in public investment.
Ethiopia's economy overtook Kenya's, with the country's Gross Domestic Product (GDP) hitting Sh7.4 trillion last year compared to Kenya's Sh7 trillion in the same year.