Attaining Transformative Growth in Eastern Africa - the Focus of Discussions in Comoros

Abstract

The growth rate of Eastern African countries has been among the fastest in the world in recent years, averaging 6.8% between 2012 and 2015. However, in 2016 and 2017, the regional growth rate declined to 5.6 percent. Moreover, the evolution of per capita income growth has been much more modest while instability has increased. The meeting, organized by the United Nations Economic Commission for Africa (ECA) in partnership with the Government of Comoros will focus on different sectors that constitute either catalysts or constraints to growth and structural transformation. The expansion of the tourism sector, the vast potential of the Blue Economy and recent largescale investments in infrastructure represent some of the main opportunities to be discussed. At the same time, experts will try to propose solutions to tackle the relative weakness of the private sector, the lack of credit flowing from the banking sector and the challenges of exchange rate management. ECA hopes that the meeting will lead to a consensus on best practices and policies to consolidate transformative growth in Eastern Africa.