Kenya’s economy is expected to experience the slowest economic growth rate in the East Africa region in 2020. The country is projected to suffer more severe setbacks than Uganda, Tanzania, and Ethiopia.
According to a report by Deloitte, Kenya’s GDP is estimated to grow at 1% in 2020 from earlier projections of 5.7%. The drastic decline in economic growth is due to the gravity of the pandemic. Kenya’s economy has suffered a decline in tourism activity, export revenues, and a disruption in the supply chain.
In Ethiopia, Deloitte expects the country to grapple with high unemployment. Its projected GDP growth in 2020 has been revised to 3.2% from 6.2%.
Similarly, the menace has dampened economic outlook in Tanzania and Uganda with their GDP growth revised down to 2% and 3.5% respectively.
According to the report by Deloitte, Tanzania is showing waning demand for mineral exports considering global supply chain interruptions.
The economy in Uganda is also faced with the disruption of supply chains and weakened global demand for goods.