Posted on March, 7, 2022 at 08:34 am
The monetary affairs committee of the East African Community (EAC) said in a communique that the economic growth in the region recovered in 2021 to an average of 4.2 percent.
DAR ES SALAAM, March 6 (Xinhua) -- The 25th Ordinary meeting of the East African Community (EAC) monetary affairs committee said growth in the region recovered in 2021 to an average of 4.2 percent, the EAC said in a communique late Friday.
The communique released at the end of the meeting by the EAC headquarters in Tanzania's northern city of Arusha attributed the economic growth to the easing of COVID-19 related restrictions, public investments and strong performance in agriculture, services, construction and manufacturing sectors.
The communique said growth in the region is expected to improve by a resumption of global economic activity with the easing of containment measures and sustained implementation of growth-supporting measures.
Downside risks remain elevated due to factors including slower global growth, rising geopolitical tensions, said the communique.
The EAC partner states are Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda.
Source: XINHUA