Kenya is set to be dealt a huge blow in terms of economic development as the East African giant is projected to be overtaken by Angola and Ethiopia. This year’s projections by the International Monetary Fund (IMF) have shown that Kenya is set to be relegated to position five by Angola and Ethiopia.
According to a report by Business Daily Newspaper today, Kenya is likely going to be dealt a huge blow as it is projected to lose her third position in the largest economy in sub-saharan Africa to Angola and Ethiopia, which are currently the fastest growing economies compared to Kenya.
Angola’s Gross Domestic Product (GDP) is reportedly growing in a fast rate due to oil production, where the country is currently the second largest oil production country after Nigeria. Ethiopia is also reportedly doing so well in its GDP after the resolution of its Tigrey civil war and conflicts. The two countries are going to cause Kenya to lose her potential big capital investors.
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