EAC member countries record 4.2 pct economic growth in 2021-Xinhua

EAC member countries record 4.2 pct economic growth in 2021

Source: Xinhua| 2022-03-06 00:12:13|Editor: huaxia

DAR ES SALAAM, March 5 (Xinhua) -- The 25th Ordinary meeting of the East African Community (EAC) monetary affairs committee has 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 slower global growth, rising geopolitical tensions and increasing commodity, said the communique.

The EAC partner states are Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda.