Soaring inflation, low exports slow economies in East Africa
A woman arranges dried fish at a deserted fish market. A global recession following high inflationary rates is likely to inflict worse damage than the 2020 pandemic. PHOTO | AFP
The economic prospects of the East African region remain in dire straits over the continual low exports amid inflation raising the cost of living.
A report by the UN Conference on Trade and Development (UNCTAD) says both developed and developing countries are staring at a recession following high inflationary rates that are likely to inflict worse damage than the 2020 pandemic.
