Ethiopia has officially overtaken neighboring Kenya as East Africa’s economic giant. According to International Monetary Fund figures, Ethiopia’s annual economic output for this year was expected to hit $78 billion from $72 billion recorded last year, AfricaNews reported. Their economic growth since 2015 has been pegged at 10.8% which has helped put a significant gap between them and Kenya. In monetary terms, Ethiopia has opened a gap of about $29 million over Kenya. Ethiopia’s economic growth is hinged on public-led spending on infrastructure and a strong demand by locals. It has also recently become a destination of choice for particularly Chinese investors.
