Looming global recession sparks fear in East Africa region
Traders selling clothes from Tanzania during a sports event in Eldoret, Kenya. East Africans are second-guessing what the projected global recession in 2023 could mean for them. PHOTO | FILE | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
East Africans are second-guessing what the projected global recession in 2023 could mean for them, given the International Monetary Fund says about a third of the world will be in recession, led by the globe’s largest economies including the US, China, and Europe.
The recent growth projections by the international financier puts East African countries’ prospects for this and next year better than the global average, but analysts say the region will not be spared from the coming recession.
