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East Africa Plans Spending Boost to Offset Global Risk, Aid Cuts

Pedestrians in the financial district in Nairobi, Kenya in June. 

Photographer: Kang-Chun Cheng/Bloomberg

Takeaways by Bloomberg AI

East African finance chiefs increased planned spending to a record to sustain economic growth and mitigate the effects of geopolitical risks and cuts in foreign aid.

Kenya, Rwanda, Tanzania and Uganda’s finance ministers presented their budget speeches on Thursday. Challenges they face include less external funding and weaker economic growth among trading partners because of the turmoil unleashed by US President Donald Trump’s trade war.