World Bank: Growth projected to pick up to 3.1% in 2018

World Bank: Growth projected to pick up to 3.1% in 2018

The World Bank’s biannual publication Africa’s Pulse has been released. It contains a broad analysis of the near-term macroeconomic outlook in Africa. Each issue also includes a section focusing on a topic that represents a particular development challenge for the continent. It is produced by the Office of the Chief Economist for the Africa Region of the World Bank.
Recent data points to a moderate strengthening of economic growth in Sub-Saharan Africa in early 2018. Growth is projected to pick up to 3.1 percent in 2018, and to firm to an average of 3.6 percent in 2019-20.
This upswing reflected, on the supply side, rising oil and metals production, encouraged by recovering commodity prices and improving agricultural conditions following droughts. Domestic demand was the main driver of last year’s growth, reflecting a rebound in consumer spending as inflation moderated, and a recovery in fixed investment as economic activity picked up among oil and metals exporters.
The full report can be accessed here.

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Written by Regina Jane-Jere

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