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Browsing: Sub
- The Africa Pulse report notes that Sub-Saharan Africa exits recession this year, but recovery is still timid and fragile
- It adds that the region is reforming, and notes that what is most needed to boost and sustain economic recovery is financing
The World Bank now says that Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 per cent in 2021.
This is one per cent higher than the April 2021 forecast according to its latest edition of Africa’s Pulse.
The bank said that the rebound is currently fueled by elevated commodity prices, a relaxation of stringent pandemic measures, and recovery in global trade.
“Commodity prices remain well above their pre-pandemic levels, with several reaching all-time highs. Oil prices rose above their pre-pandemic levels in the first half of 2021 but have plateaued more recently due to demand …