{"id":21762,"date":"2023-12-16T22:53:27","date_gmt":"2023-12-16T22:53:27","guid":{"rendered":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/fitch-predicts-4-growth-for-sub-saharan-africa-in-2024"},"modified":"2023-12-17T00:37:28","modified_gmt":"2023-12-17T00:37:28","slug":"fitch-predicts-4-growth-for-sub-saharan-africa-in-2024","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/cape-verde\/all-news\/fitch-predicts-4-growth-for-sub-saharan-africa-in-2024","title":{"rendered":"Fitch predicts 4% growth for sub-Saharan Africa in 2024"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Cape verde. <\/strong><\/span>The financial rating agency Fitch Ratings forecasts growth of 4% in sub-Saharan Africa in 2024, with inflation in the region slowing to 4.9%, and public debt remaining at 67%.&#8221;We expect average growth in sub-Saharan Africa in 2024 to remain at around 4%, which is in line with the average for the five years to 2019, despite of being lower than the growth trend until 2014, which was stronger&#8221;, analysts write in a report on the region&#8217;s evolution prospects in 2024, in which they say that the trend in ratings is neutral.<\/p>\n<p>In the document, sent to clients and to which Lusa had access, Fitch Ratings points out that despite the average growth being around 4%, &#8220;there are substantial divergences a&gt;&#8221;, since seven of the 20 countries that are evaluated will grow at levels equal to or greater than 5.5%.<\/p>\n<p>&#8220;The main risks are related to financing restrictions, climate events and the possibility of lower-than-expected global growth&#8221;, that can influence the expansion of African economies.<\/p>\n<p>Fitch, which issues an opinion on the credit quality of Portuguese-speaking Angola, Cape Verde and Mozambique, foresees an improvement in the region&#8217;s average inflation, after the strong rise in 2022, to 7.4%, which is expected to slow down to 6.3 % this year and 4.9% next year.<\/p>\n<p>Despite &#8220;significant variations&#8221; Among the 20 countries analyzed, Fitch Ratings highlights that Angola, Ethiopia, Ghana and Nigeria are expected to be some of the countries where prices will rise by more than 10% in 2024.<\/p>\n<p>Regarding public debt, one of the main concerns of analysts and international economic institutions, Fitch predicts a stabilization at 67%, anticipating the continuation of budgetary consolidation efforts, in many cases with International Monetary Fund programs, which cover 13 of the 20 countries that have a rating assigned by Fitch.<\/p>\n<p>&#8220;The debt-to-GDP ratio, at 67%, remains 10 percentage points higher than it was in 2019, before the pandemic, and is more than double the value below 30% recorded between 2007 and 2013&#8221;, reads the report, which states that half of the countries with a Fitch rating have a public debt above 70% of GDP.&lt; \/span&gt;<\/p>\n<p>&#8220;The average debt-to-income ratio will continue to be above 300%, more than double that recorded in 2013&#8221; , which means that taxes collected by the State only cover about a third of the cost of servicing the debt, analysts conclude.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/cape-verde\">Cape verde<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Cape verde. The financial rating agency Fitch Ratings forecasts growth of 4% in sub-Saharan Africa in 2024, with inflation in the region slowing to 4.9%, and public debt remaining at 67%.&#8221;We expect average growth in sub-Saharan Africa in 2024 to remain at around 4%, which is in line with the average for the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":21761,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,331,328],"class_list":["post-21762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-cape-verde","tag-cape-verde"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fitch predicts 4% growth for sub-Saharan Africa in 2024 - 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