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- The World Bank projects Sub-Saharan Africa’s economic growth will dip to 3.1 per cent in 2023.
- Weakening growth is attributable to multiple crises including debt burden, high inflation, and slowing global economic activity this year.
- Policymakers across Sub Sahara Africa, however, remain hopeful of navigating the impact of global economic disruptions key among them the Russia-Ukraine war that has constrained food imports
A huge debt portfolio, high inflation and slowing economic activity across the globe are set to see Sub-Saharan Africa’s economic growth dip further to 3.1 per cent this year from 3.6 per cent posted in 2022.
The projection by the World Bank comes even as policymakers across Sub Sahara Africa remain hopeful of navigating the impact of global economic disruptions key among them the Russia-Ukraine war that is constraining food imports coupled with high fuel prices which is worsening inflation.
The World Bank and the International Monetary Fund …
