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Browsing: 2024 Africa’s Macroeconomic Performance and Outlook
- African Economic Outlook 2024 calls for an overhaul of the global financial architecture to transform African economies.
- Seventeen African economies are projected to grow by more than 5 per cent in 2024, potentially increasing to 24 by 2025.
- Growth in Southern Africa is projected to pick up slightly from an estimated 1.6 per cent in 2023 to 2.2 per cent in 2024
East Africa is projected to lead GDP growth on the continent, amidst global challenges, according to the African Development Bank Group’s African Economic Outlook 2024 report. This region is expected to see the fastest growth, with real GDP growth rising from an estimated 1.5 per cent in 2023 to 4.9 per cent in 2024 and 5.7 per cent in 2025.
However, the economic uncertainties in South Sudan and Sudan due to conflict have led to a downward revision of 0.2 percentage points for 2024 due to larger-than-expected …