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Vol 57 No 13

Published 24th June 2016

A new deal in the East

Industralisation efforts, protectionism and higher taxes dominate the region's budgets this year

Industrial policy is in and Western aid is out; the state is back and the market is pushed back; economic nationalism is up, as is scepticism about globalisation. That, broadly, is the political and economic message from the budgets of Kenya, Rwanda, Tanzania and Uganda – all announced on 8 June – to reinforce the political will within what is arguably Africa's most effective trading bloc.

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