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Economic Outlook: Countries that stand out according to the AfDB

31/05/2022
Categories: Economy/Forex

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After growing by 6.9% in 2021, Africa's Gross Domestic Product (GDP) is expected to slow to 4.1% in 2022 and 2023. This is the conclusion of the report on the "African Economic Outlook 2022", published by the African Development Bank (AfDB). Despite this negative outlook, some countries will perform well.

East Africa has the best performance on the continent (4.7%), ahead of Central Africa (4.6%), North Africa (4.5%), West Africa (4.1%) and Southern Africa (2.5%). These regional averages conceal inequalities in growth. In North Africa, for example, growth of 4.6% is driven by Egypt, the second largest African economy behind Nigeria in terms of GDP, whose economy is expected to grow by 5.7% in 2022.

At the country level, the best performance in 2022 will be achieved by Rwanda, as was the case in 2010 with an increase in its GDP of 10.0%, with a growth rate of 6.9%. After Rwanda, Niger is expected to post growth of 6.5% in 2022 and 7.2% in 2023. In third place, Mauritius (6.2%), the Democratic Republic of Congo (6.2%), Benin (6.1%), Côte d'Ivoire (6.0%), Kenya (5.9%), Togo (5.8%) and Egypt (5.7%) will also perform very well

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