{"id":32043,"date":"2024-06-16T20:00:03","date_gmt":"2024-06-16T20:00:03","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year"},"modified":"2024-06-16T20:28:09","modified_gmt":"2024-06-16T20:28:09","slug":"sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year","title":{"rendered":"Sub-Saharan Africa\u2019s growth estimated to pick up to 3.5% this year"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>The World Bank predicts in its latest Global Economic Prospects<\/b> report released this Tuesday that the growth of sub-Saharan African economies will accelerate from 3% in 2023 to 3.5% this year, a rate below the region\u2019s growth needs.<\/p>\n

After an acceleration of 3.6% in 2022, \u201cgrowth in Sub-Saharan Africa (SSA) weakened to 3 percent in 2023\u2032\u2032 and \u201cgrowth in the region\u2019s largest three economies\u2014Nigeria, South Africa, Angola\u2014remained weak\u201d, reads the report\u2019s Regional Highlights on SSA.<\/b><\/p>\n

In the document, World Bank economists estimate that the average growth of African economies will accelerate to 3.5% this year and to around 4% in the next two years, in a context of great uncertainty, in which forecasts have high negative risks..<\/p>\n

\u201cDownside risks include increasing global geopolitical tensions,. especially an escalation of the conflict in the Middle East; a further deterioration in regional political stability; increased frequency and intensity of adverse weather events; higher-than-expected inflation; a sharper-than-expected economic slowdown in China; and increased government debt distress, especially if elevated public debt cannot be stabilized or new sources of financing do not become available\u201d, the document points out.<\/p>\n

Looking at the region\u2019s three largest economies, the World Bank notes that \u201cgrowth remained weak\u201d but sees an increase in private sector activity earlier this year, driven by the strengthening global economy.<\/p>\n

At the same time, it stresses, \u201cmany economies in the region continue to struggle with weak government balance sheets, stemming partly from low revenue collection and high debt-service costs, while some also need to manage the adverse effects of currency depreciations\u201d.<\/p>\n

With regard to Portuguese-speaking countries, the World Bank estimates that Angola will accelerate from 0.9% last year, to 2.9% this year and 2.6% and 2.4% in the following two years.<\/p>\n

Cape Verde is expected to maintain growth above 4.5% until 2026.<\/p>\n

Guinea-Bissau is seen accelerating from 4.2% last year to 4.7% this year, maintaining the slight upward trajectory until 2026, the year in which should register an economic expansion of 4.9%.<\/p>\n

Mozambique maintains a growth of 5% up until 2026, a year in which it should slow down to 4.4%.<\/p>\n

Sa\u0303o Tome\u0301 and Pri\u0301ncipe, after last year\u2019s 0.5% recession, should recover to 2.5% this year and 3.1% and 2.6% in the following two years.<\/p>\n

Sustainably in negative territory is Equatorial Guinea, which is expected to record recessions of 4.3% this year and 3.3 and 3.6% in the following two years.<\/p>\n

Globally, the World Bank projects a growth of 2.6% this year, before accelerating to 2.7% over the next two years.<\/p>\n

For More News And Analysis About Eritrea Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. The World Bank predicts in its latest Global Economic Prospects report released this Tuesday that the growth of sub-Saharan African economies will accelerate from 3% in 2023 to 3.5% this year, a rate below the region\u2019s growth needs. After an acceleration of 3.6% in 2022, \u201cgrowth in Sub-Saharan Africa (SSA) weakened to […]<\/p>\n","protected":false},"author":84,"featured_media":32042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233],"class_list":["post-32043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-eritrea"],"yoast_head":"\nSub-Saharan Africa\u2019s growth estimated to pick up to 3.5% this year - Eritrea<\/title>\n<meta name=\"description\" content=\"The World Bank predicts in its latest Global Economic Prospects report released this Tuesday that the growth of s ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sub-Saharan Africa\u2019s growth estimated to pick up to 3.5% this year\" \/>\n<meta property=\"og:description\" content=\"The World Bank predicts in its latest Global Economic Prospects report released this Tuesday that the growth of s ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-16T20:00:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-16T20:28:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/06\/sm_1718553152.728011.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"790\" \/>\n\t<meta property=\"og:image:height\" content=\"478\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Sub-Saharan Africa\u2019s growth estimated to pick up to 3.5% this year\",\"datePublished\":\"2024-06-16T20:00:03+00:00\",\"dateModified\":\"2024-06-16T20:28:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\"},\"wordCount\":417,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/06\/sm_1718553152.728011.jpg\",\"keywords\":[\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/sub-saharan-africas-growth-estimated-to-pick-up-to-3-5-this-year\",\"name\":\"Sub-Saharan Africa\u2019s growth estimated to pick up to 3.5% this year - 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