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Browsing: Africa’s Economic Growth Trends
Nevertheless, AfDB reports that Africa’s average GDP growth last year was more than the global average of 3.4 per cent. In fact, all but two African countries recorded positive growth trends. Overall, African nations have shown remarkable resilience, evident in the projected economic growth surpassing the global average.
“The outlook remains positive and stable, with a projected rebound to 4 per cent in 2023 and further consolidation to 4.3 per cent in 2024. Our projections show that 18 African countries will experience growth rates exceeding 5 per cent in 2023, a number expected to increase to 22 in 2024,” states the World Bank in its 2023 Economic Outlook report for Africa.…