World Bank projects 3.3% gdp growth in Africa this year and 3.5 in 2022

December 19, 2021 Pharaoh

Sub-Saharan Africa is predicted to recover from the COVID-19 pandemic-induced recession in 2020, with growth of 3.3 percent expected in 2021. According to the newest edition of Africa’s Pulse, this is 1% greater than the April 2021 forecast. This recovery is being powered by rising commodity prices, a relaxation of strict pandemic measures, and a revival in global trade, but it is still susceptible due to poor vaccination rates on the continent, long-term economic harm, and a slow rate of recovery.
The October 2021 edition of Africa’s Pulse stated that , “the spike in commodity prices paired with fast growth in China in the first half of the year bolstered African exports.”
The report also expects the region’s economy to rise at a rate of slightly under 4% in 2022 and 2023.
The Ivory Coast’s GDP is predicted to grow by 6.2 percent this year, while Kenya’s is expected to grow by 5.0 percent, according to the bank. Non-resource-rich countries are also expected to rebound well, according to the bank.

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