{"id":1242,"date":"2021-07-15T13:40:13","date_gmt":"2021-07-15T13:40:13","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/?p=1242"},"modified":"2021-07-15T13:39:05","modified_gmt":"2021-07-15T13:39:05","slug":"deloitte-says-east-african-economies-on-the-rebound","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound","title":{"rendered":"Deloitte says East African economies on the rebound"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/eritrea\">Eritrea<\/a>. <\/strong><\/span>ECONOMIES in the East Africa region are projected to rebound with a growth rate of three per cent in 2021, says a new report by a global audit and financial analysis giant.<\/p>\n<p>Titled \u2018Navigating New Realities,\u2019 the report released yesterday by Deloitte analyses the economic impact of the COVID-19 pandemic on East African economies, surveying Tanzania, Kenya, Ethiopia, Uganda and Rwanda.<br \/>\nCommenting on the region\u2019s macro-economic environment, the Deloitte East Africa financial advisory leader Gladys Makumi said that the firm expects East African economic activity to pick up in 2021 with a three per cent growth in comparison to 0.9 per cent in 2020.<br \/>\n\u201cThis will be mainly driven by private consumption and domestic demand. However, the recurrence of lockdowns, slow vaccine roll-out across the region, restriction in movements and budgetary pressures in some of the major economies will have a negative impact,\u201d she stated<br \/>\nThe COVID-19 pandemic has taken more than four million human lives and seen economic stimulus packages across global economies surpass $13trn, four times more than the response to the 2008 &#8211; 2009 financial crisis.<br \/>\n\u201cConsidered the black swan of 2020, the COVID-19 pandemic ravaged through economies both globally and at an East Africa level, with far reaching effects witnessed across several sectors. The pandemic is now considered part of the new normal, though navigating through this new reality is expected to be bumpy and slow with full recovery and rebound in 2021 still largely uncertain,\u201d she asserted.<br \/>\nTewodros Sisay, Deloitte East Africa financial advisory associate director noted that the past year has truly shown that the world is in a new reality. Despite the pandemic taking more than 150,000 lives in Africa and the continent&#8217;s economy contracting by 2.1 per cent, countries have largely remained resilient amidst the pandemic and continue to charter a new path towards recovery as of the third quarter of 2021.<br \/>\nRecovery will be driven by tourism, agriculture, and manufacturing sectors. Subsequently, it will also be driven by an uptick in investment activity in the private sector with long-term effects of foreign direct investment (FDI) diversification expected to take effect, notwithstanding the 9.6 per cent reduction in FDI inflows into the East African region in 2020, the report indicated.<br \/>\nThis year\u2019s publication provides high level insights into the continued impact of COVID-19 in East Africa and dives deeper into sectoral analysis, the analyst noted. \u201cWe have also incorporated feedback from our clients and readers and have included Rwanda in this year\u2019s publication. The publication highlights the COVID-19 sector heat maps across the East Africa countries as well as provides an outlook of the expected performance in 2021,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Eritrea. ECONOMIES in the East Africa region are projected to rebound with a growth rate of three per cent in 2021, says a new report by a global audit and financial analysis giant. Titled \u2018Navigating New Realities,\u2019 the report released yesterday by Deloitte analyses the economic impact of the COVID-19 pandemic on East [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":1241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[242,243,267,354,233],"class_list":["post-1242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-eritrea","tag-covid-19","tag-east-africa","tag-eritrea"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Deloitte says East African economies on the rebound - Eritrea<\/title>\n<meta name=\"description\" content=\"ECONOMIES in the East Africa region are projected to rebound with a growth rate of three per cent in 2021, says a new re ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deloitte says East African economies on the rebound\" \/>\n<meta property=\"og:description\" content=\"ECONOMIES in the East Africa region are projected to rebound with a growth rate of three per cent in 2021, says a new re ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-15T13:40:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2021\/07\/img-60f039e76854d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"660\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Deloitte says East African economies on the rebound\",\"datePublished\":\"2021-07-15T13:40:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\"},\"wordCount\":439,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2021\/07\/img-60f039e76854d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"COVID-19\",\"East Africa\",\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/economy\/deloitte-says-east-african-economies-on-the-rebound\",\"name\":\"Deloitte says East African economies on the rebound - 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