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The World Bank has cut its growth forecast for Sub-Saharan Africa this year to 2.8 percent from an initial 3.3 percent, it said on Monday. The commodity price slump of 2015 cut short a decade of rapid growth for the region, and the bank said growth would take longer to recover as a decline in industrial production and a trade dispute between China and the United States take their toll. The bank’s 2019 forecast means economic growth will lag population growth for the fourth year in a row and it will remain stuck below 3 percent, which it slipped to in 2015.
In its latest report on the regional economy, the bank also cut its 2018 growth estimate to 2.3 percent from last October’s prediction of 2.7 percent growth for last year. The slower-than-expected overall growth reflects ongoing global uncertainty but increasingly comes from domestic macroeconomic instability including poorly managed debt, inflation, and deficits.
The bank's 2019 forecast means economic growth will lag population growth for the fourth year in a row and it will remain stuck below 3 percent, which it slipped to in 2015.
South Africa came out of recession in the third quarter of last year but investors were still cautious due to policy uncertainty, the bank said.
By the end of 2018, nearly half of the countries in sub-Saharan Africa covered under the Low-Income Country Debt Sustainability Framework were at high risk.
Source: https://ftsejsetop40futures.org/
In its latest report on the regional economy, the bank also cut its 2018 growth estimate to 2.3 percent from last October’s prediction of 2.7 percent growth for last year. The slower-than-expected overall growth reflects ongoing global uncertainty but increasingly comes from domestic macroeconomic instability including poorly managed debt, inflation, and deficits.
The bank's 2019 forecast means economic growth will lag population growth for the fourth year in a row and it will remain stuck below 3 percent, which it slipped to in 2015.
South Africa came out of recession in the third quarter of last year but investors were still cautious due to policy uncertainty, the bank said.
By the end of 2018, nearly half of the countries in sub-Saharan Africa covered under the Low-Income Country Debt Sustainability Framework were at high risk.
Source: https://ftsejsetop40futures.org/
