ECONOMY
Economic growth in Sub-Saharan Africa (SSA) is expected to rise between 2.3 percent and 3.4 percent in 2021 after contracting by 2 percent last year.
Stating this yesterday, the World Bank also said that prospects for recovery in SSA economies are strengthening amid actions to contain new waves of COVID-19 pandemic and speed up vaccine rollouts after an economic growth contraction in the region.
According to the statement, “Growth in the region is forecast to rise between 2.3 and 3.4 percent in 2021, depending on the policies adopted by countries and the international community.
“Real gross domestic product (GDP) growth for 2022 is estimated at 3.1 percent. For most countries in the region, activity will remain well below the pre-COVID-19 projections at the end of 2021, increasing the risk of long-lasting damage from the pandemic on people’s living standards”.