East African Bloc Tables 109.3-Mln-USD Budget For New Financial Year

DAR ES SALAAM, Xinhua: The East African Community (EAC) on early this week presented budget estimates totaling 109.3 million U.S. dollars for the 2025/2026 financial year before the East African Legislative Assembly.

In a statement released late, from its headquarters in Tanzania’s northern city of Arusha, the EAC said the budget prioritizes enhancing regional peace, security, political processes, and emergency response mechanisms to foster a more stable political environment.

The statement noted that the budget aims to strengthen the EAC Customs Union, thereby boosting regional trade and optimizing supply chains among member states.

It also emphasizes investment in multi-modal strategic, climate-resilient infrastructure and digitalization to promote trade and regional integration.

While tabling the budget, Beatrice Askul Moe, chairperson of the EAC Council of Ministers and Kenya’s cabinet secretary for EAC, arid and semi-arid lands and regional development, said the estimates were presented at a time when EAC economies have shown resilience despite ongoing global challenges, including geopolitical tensions, climate change, and shifts in international aid.

“Despite these challenges, the average economic growth rate for the region was 5.5 percent in 2024, which outpaced both the global average of 3.3 percent and sub-Saharan Africa’s growth rate of 4 percent,” Moe added.