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The Finance Ministers of Kenya, Tanzania and Uganda, member states of the East African Community (EAC) tabled their respective 2024/25 budgets before their respective parliaments on 13 June 2024.
A key focus for the region is Fiscal Consolidation/Climate Change Adaptation/Digital Transformation. The budgets showcase commitment to foster economic growth, enhance regional collaboration, address key challenges, and revive the region from the global supply shocks and economic headwinds in recent years.
The key themes explored include:
- Infrastructure Development: Investments in roads, railways, sea and airports to achieve socio-economic transformation, enhance EAC’s competitiveness and facilitate cross border trade and regional integration.
- Digital Transformation: Initiatives in Information, Communication and Technology sector to expand digital infrastructure, enhance productivity and competitiveness, and creation of job opportunities by equipping citizens with digital skills for the 21st century.
- Agricultural Productivity: Strategies to enhance development of agricultural value chains, reduce dependence on basic food imports, and expansion to new high-value crops.
- Climate Change Adaptation: Commitments towards environmental conservation, renewable energy adoption, and climate resilience to promote a greener future.
- Social Development: Strategies to prioritize education, healthcare, and social welfare, ensuring the well-being and empowerment of EAC citizens.
We are pleased to share highlights from the East Africa Community Member States' budget announcements.
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