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Ethiopia is Anticipated to Become the Third-largest Economy in the Region – IMF

According to the International Monetary Fund’s most recent World Economic Outlook, Angola’s gross domestic product (GDP) would decline throughout the time, allowing Kenya to pass it and move up to fourth place behind Ethiopia thanks to its anticipated 5.3% economic growth. Ethiopia’s advantage over Kenya grew when the IMF increased its prior estimate of the country’s GDP in 2023 from $126 billion to $156.1 billion. Absent superpowers like Morocco and Egypt, 46 of the 54 nations on the continent are found in sub-Saharan Africa. Between Kenya and Ethiopia, the struggle for economic supremacy in Eastern Africa has mostly been a struggle to draw in foreign investment, particularly in the industrial and agricultural sectors. So far, South Africa and Ethiopia have done better than Kenya in luring foreign capital interested in a populace with higher disposable income.

BUSINESS INSIDER