Covid response deflates project spending across eastern Africa
Monday April 12 2021
A repair crew lays asphalt on a road. Infrastructure projects in the transport sector accounted for 51.5 per cent ($40 billion) of the region’s total. PHOTO | FILE | NMG
Summary
Sizeable drop in the number of projects and project value largely blamed on region’s inability to meet financing costs due to the effects of coronavirus.
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Eastern African countries cut $68.3 billion spending on infrastructure projects last year, the largest decline in number of projects and value of projects in sub-Saharan Africa in a year.
This is as a result of the economic fallout from the Covid-19 pandemic sweeping across the region, hitting public finances and pushing governments into massive indebtedness.
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