Growth in Sub-Saharan Africa is expected to reach 3.1% in 2018, compared with 2.6 in 2017, and to reach an average of 3.6% over the 2019-2020 period, according to a semi-annual report released Wednesday (April 18th) by the World Bank.
Entitled Africa’s Pulse, the document states that growth forecasts rely on the stability of hydrocarbon and metal prices, and the implementation of “macroeconomic reforms” aimed at achieving high and sustained growth levels, and ” to stimulate investment “.
The moderate pace of economic expansion reflects the gradual resumption of growth in Nigeria, Angloa and South Africa, the first three economies in the region. In addition, says the report, “economic activity will start up again in some metal exporting countries, as a result of improved production and investment in the mining sector.”
While the countries of UEMOA, drawn by Senegal and the Ivory Coast, are quoted to “maintain a solid growth”, this is not the case in the CEMAC zone, whose economies remain burdened by the low crude prices.
In East Africa, “growth prospects have improved in most countries”, particularly as a result of improved growth in the agricultural sector and a recovery in private sector credit, according to the report. World Bank report.
