The Finance Ministers of the East African Community (EAC) member states tabled their respective 2023/24 budgets before their parliaments on 15 June 2023. A key focus for the region in the short to medium term is Economic Transformation/Recovery and Climate Change Mitigation/Adaptation for Improved Livelihoods. The budgets showcase commitment to foster economic growth, enhance regional collaboration, address key challenges, and cushion the region from the global supply shocks that continue to wreak havoc around the world.
The key themes explored include:
- Infrastructure Development: Investments to strengthen transportation, energy, and digital infrastructure, driving connectivity and facilitating trade within the EAC.
- Private Sector Support: Initiatives to stimulate entrepreneurship, attract investments, and create an enabling environment for businesses to thrive.
- Social Development: Strategies to prioritize education, healthcare, and social welfare, ensuring the well-being and empowerment of EAC citizens.
- Regional Integration: Efforts to enhance intra-regional trade, harmonize policies, and deepen cooperation among EAC member states.
- Sustainable Development: Commitments towards environmental conservation, renewable energy adoption, and climate resilience, promoting a greener future.
We are pleased to share highlights from the East Africa Community Member States' budget announcements.
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