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Economic outlook: The World Bank predicts 3.6% growth for sub-Saharan Africa in 2022

13/01/2022
Categories: Economy/Forex

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Economic growth in the sub-Saharan sub-region is expected to pick up slightly according to the World Bank. In its Global Economic Prospects report, the institution indicates that growth in sub-Saharan Africa is expected to pick up slightly over the forecast period, to 3.6% in 2022 and 3.8% in 2023.

The World Bank advises that growth in sub-Saharan Africa is expected to pick up slightly over the forecast period, to 3.6% in 2022 and 3.8% in 2023." These figures, however, represent almost a full percentage point lower than the 2000-19 average, a consequence of the lingering effects of the pandemic and the reduction of aid measures, combined with public policy uncertainty and worsening insecurity in some countries," notes the Bretton Woods institution.

She adds that high commodity prices are expected to support the near-term recovery in the region, with Nigeria and Angola benefiting from higher oil prices and the gradual easing of production cuts in the countries. of OPEC+. High cotton and food prices such as coffee will benefit agricultural exporters (Ethiopia, Kenya and Tanzania). In some countries, however, the expansion of agricultural activities will be limited by various uncertainties, including periods of drought and below-average rainfall, as well as the intensification of conflicts.

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