World Economy

Ethiopia Overtakes Kenya

 Ethiopia Overtakes Kenya Ethiopia Overtakes Kenya

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.


Add new comment

Read our comment policy before posting your viewpoints