By Winifred Okocha, Editor at LinkedIn News
The International Monetary Fund has predicted that Africa's economy – excluding the north of the continent – will see slow growth but that there will be a rebound in 2024.
In its World Economic Outlook report, the IMF projected that the region's economy will grow 3.6% in 2023, then will speed up to 4.2% in 2024. The organisation cites the impact of the COVID-19 pandemic and the Ukraine crisis as causes for this year's slowdown.
The report explains that Nigeria, Angola, Gabon, Chad and Equatorial Guinea, are expected to have a combined growth rate of 3.2% in 2023 and 3% in 2024.
South Africa, the continent's most industrialised economy, is expected to register a near-zero growth rate of 0.1% in 2023, increasing to 1.8% the following year.
Source:
https://www.linkedin.com/news/story/imf-predicts-slow-growth-in-2023-5611012/
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