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East Africa Plans to Spend Its Way Out of Russia-Created Crisis

  • Finance ministers present budgets for 2022-23 fiscal year
  • Nations face risks including inflation, weakening currencies
Drivers queue to fill cans with fuel at a gas station in Nairobi, Kenya, on April 13. To try curb inflation and ease pressure on currencies, Kenya and Tanzania have imposed measures, including subsidies on items such as fuel. 

Drivers queue to fill cans with fuel at a gas station in Nairobi, Kenya, on April 13. To try curb inflation and ease pressure on currencies, Kenya and Tanzania have imposed measures, including subsidies on items such as fuel. 

Photographer: Patrick Meinhardt/Bloomberg

East African finance chiefs increased spending plans to a record to sustain economic growth as they try to cope with the fallout from Russia’s invasion of Ukraine. 

Finance ministers of Tanzania and Uganda presented their budget speeches on Tuesday, while those of Kenya, Ethiopia and Rwanda submitted theirs earlier. Challenges they face as a result of Russia’s war and domestic issues, including prolonged drought and political disruptions, range from heavier debt burdens to mounting inflationary pressures and weakening currencies.