The growth of EA is facing significant challenges due to the burden of high taxes and mounting debt

East Africa’s finance ministers presented a range of measures for increased spending in the 2024/2025 fiscal year, prioritizing debt repayment and the use of domestic revenues to fund government operations. These measures lay the groundwork for higher taxation, which could potentially hinder economic growth in the region.

East Africa’s economic growth is expected to accelerate, with projections indicating a rise from 3.5 percent in 2023 to 5.1 percent in 2024 and 5.7 percent in 2025. This positive outlook is attributed to the ongoing infrastructure development and the growth of regional trade.