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Vol 55 No 14

Published 11th July 2014

Banking on big infrastructure

The spending plans of East African countries show a common enthusiasm for big projects but they are borrowing to pay for them

With a decade of high growth behind them and a resource bonanza looming, East African Community members are displaying a new appetite for large-scale infrastructure. EAC governments are therefore committed once again to another season of deficit spending. When they presented their annual budgets simultaneously on 12 June, as promised under an EAC agreement, the collective regional budget hovered at around the US$40 billion mark. That reflects a steady expansion of public spending in line with growing individual economies.

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