AfDB forecasts East Africa economies to grow by 4 percent in 2022

An aerial view of runners taking part in the Nairobi marathon as they run along the new expressway that was flagged off by Kenya's President Uhuru Kenyatta, as an inaugural annual event in Nairobi on May 8, 2022. Set to be opened to the public from May 14, the 26.9 kilometre (16.7 mile) highway that cuts through the Central Business District connecting Nairobi's main airport Jomo Kenyatta International to Westlands area where it lets out onto the main highway leading to Kenya's Rift Valley, the expressway has been mired in controversy regarding it's procurement and actual costing as it has generated excitement among traffic-jam weary Nairobians'. Tony KARUMBA / AFP

East African economies are expected to grow by four percent in 2022, the African Development Bank (AfDB) said on Friday.

An aerial view of Kenya’s Nairobi Express Way. /AFP

According to the lender’s East Africa Regional Economic Outlook 2022, the region recorded a robust economic recovery in 2021, but most members are yet to achieve their pre-COVID-19 growth levels.

The report also points out several policy interventions needed to boost East Africa’s post-COVID-19 recovery and build resilience against emerging vulnerabilities as well as the short, medium, and long-term policy options for supporting climate resilience.

The findings show that the expected strong growth is not homogenous across the region, with top performers being Ethiopia, Kenya and Rwanda.

According to the report, lingering political instability notably in Ethiopia, Somalia, South Sudan, and Sudan, could weigh down on the region’s outlook, while several countries are equally faced with different climate change vulnerabilities.

“These impacts are becoming dynamic and are compounded by other shocks including commodity prices, health, and insecurity which calls for enhanced contextual risk and vulnerability assessments to inform clear adaptation and mitigation measures,” the report reads in part.