Welcome to Volume IV of the East Africa Macroeconomic Publication, where we explore the theme ‘Cautious optimism amid economic turbulence’. This publication provides a comprehensive overview of the current economic landscape in the region with a focus on the key themes that are shaping the outlook for the coming year. The last year has been challenging for the East African region, with increased global commodity prices, subsequent higher cost of living, an ensuing series of monetary tightening stances, currency depreciations and overall debt distress. The residual effects of these challenges continue to plague the East African countries and have posed macroeconomic headwinds. Despite these headwinds, we remain cautiously optimistic about the outlook for 2024 for the region, with expectations of abating macroeconomic challenges and better global growth outcomes in the medium term.
This year’s publication explores the following four key themes that are shaping the macroeconomic outlook for East Africa: