The International Monetary Fund (IMF) has projected that the size of Kenya’s economy will overtake that of Angola this year even as Ethiopia stretches its lead.
In its latest World Economic Outlook, the IMF says Angola’s gross domestic product (GDP) will shrink during the period, allowing Kenya, whose economy is expected to grow by 5.3 percent, to overtake it, and perch itself at the fourth spot behind Ethiopia.
However, Ethiopia, which the IMF had projected in its October 2022 outlook would overtake Kenya to become Eastern Africa’s largest economy, is now expected to overtake both Angola and Kenya to become the third largest economy in sub-Saharan Africa.
This is after the IMF revised its earlier forecast on Ethiopia’s GDP in 2023 from $126 billion to $156.1 billion, stretching its newfound lead over Kenya.
Sub-Saharan Africa accounts for 46 of the continent’s 54 countries, excluding giants such as Morocco and Egypt.
