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/BloombergTakeaways 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 Ugandaās 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 Trumpās trade war.