The World Bank has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and ...
has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and 3.8 per cent in 2025.
It, however, said the recovery remained fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters, and escalating conflict and violence. “Overall, the report underscores that in spite of the projected boost in growth, the pace of economic expansion in the region remains below the growth rate of the previous decade .“Moreover, due to multiple factors, including structural inequality, economic growth reduces poverty in Sub-Saharan Africa less than in other regions.”
“It needs to be supported by policies that expand the productive capacity of the private sector to create more and better jobs for all segments of society.” “African governments’ fiscal positions remain vulnerable to global economic disruptions, necessitating policy actions to build buffers to prevent or cope with future shocks.
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