He mentioned World Bank In the latest edition of the Regional Economic Outlook report entitled Pulse Africa Growth is expected to remain comfortably higher than the 2.4 percent growth achieved last year thanks to rising consumption and private investment.
“This recovery remains fundamentally slow,” Andrew Dabalin, the World Bank’s chief economist for Africa, said in a press release.
The report expected growth next year of 3.9 percent, which is slightly more than its previous forecast of 3.8 percent.
Slowing down, the report said Inflation In many countries policymakers will be allowed to start lowering prices Interest The high.
The bank explained that growth expectations still face serious risks from armed conflicts and climate events such as drought, floods and hurricanes.
The bank said that had it not been for the conflict in… Sudan Which has devastated economic activity and caused widespread famine and displacement, growth in the region in 2024 would have been half a percentage point higher and in line with its initial estimates in April.
Growth is expected to rise in South Africa, the most developed economy in Continent of Africato 1.1 percent this year and 1.6 percent in 2025, according to the report, from 0.7 percent last year.
The report stated that the economy is expected to grow Nigeria 3.3 percent this year, and growth rises to 3.6 percent in 2025, while Kenya’s economy, the richest economy in East Africa, is likely to grow five percent this year.
