ANGOLA TO SURPASS KENYA’S ECONOMY IN LATEST IMF FORECAST.

The IMf recent forecast indicates that the Angola’s economy is set to surpass Kenya’s in nominal GDP terms by the end of 2024. This is largely due to Angola’s expected economy growth rate of 8.6% that is driven by it’s oil sector and post recession recovery. In contrast Kenya’s economy growth is expected to slow to 2.4% hindered by challenges like drought, the lingering effects of covid 19 pandemic and global supply chain disruptions.

Kenya’s GDP is expected to reach about $117.6 billion placing kenya it behind Angola’s estimated $135 billion for 2024. Ethiopia too is expected to overtake kenya with a projected GDP of around $126.6 billion benefiting from economic reforms stabilization following civil conflicts.

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