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Kenya and Tanzania Moody's says.
The agency noted both countries' gross domestic product per capita is exceeded to Ksh300,000 ($ 3000) in 2016 on the power of parity (PPP) basis – on the strength of what a unit of the currency can buy
"The size of the economy, as measured by nominal GDP in US dollar terms, as a proxy for diversification in the economy and capacity to generate income and sustainable income. The economy is also larger than the B-rated median (countries), "said Moody's.
While Kenya's GDP growth is likely to be in the range of five to six percent in the next two years, that is 2018 and 2019, that of Tanzania is projected to be in the region of 6.5 and 7.5 per cent
Tanzania ranks with Rwanda in terms of economic growth for the next two years.
Resilience
Kenya has already shown resilience with regard to multiple shocks last year – drought, Moody's noted
"The Kenyan economy is more diverse than its regional peers.
"This comes in spite of the economy being hit by multiple shocks in recent years, including droughts that weighed on agricultural activity, political uncertainty in 2017that We believe in the growth of sentiment, and the negative impact of the interest rate cap on bank lending, "said the agency.
" We expect growth to remain highest in Rwanda and Tanzania. rates of 5-6 per cent in Uganda and Kenya, and 6.5-7.5 per cent in Tanzania and Rwanda, "said Moody's.
For the East African region of Uganda, Moody's said that growth is likely to be among the highest in sub-Saharan African.
"The East Africa region's economies of Kenya, Tanzania, Rwanda, and Uganda will remain among the fastest growing economies in sub-Saharan Africa and globally," said the agency. 59014] var FBIsLoaded = false;
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