All five East African Community countries should brace for drastic drops in their economic growth rates this year as a direct result of the global coronavirus crisis.
The International Monetary Fund’s latest World Economic Outlook projections for 2020 pegs Kenya and Tanzania’s respective GDP growth rates at one per cent and two per cent respectively in 2020, down from 5.6 and 6.3 per cent respectively in 2019. Uganda will maintain a 3.5 growth rate this year, compared with 4.9 per cent in 2019.
