Africa could experience economic growth next year

July 10th, 2020 – Africa’s economic growth could rebound in 2021, provided that governments manage the COVID-19 infection rate well, according to updated forecasts from the African Development Bank, released on Tuesday (July 7th, 2020).

In a comprehensive socio-economic assessment of the pandemic’s impact, the bank said growth was now projected to rebound to 3% in 2021 from -3.4% in the worst-case scenario for 2020.

The predictions are contained in a supplement to the bank’s African Economic Outlook, which was released on 30 January. At the time, Africa’s growth was forecast at 3.9% in 2020 and 4.1% in 2021.

The supplement cautioned that the growth outlook for 2021 and beyond would depend largely on African governments’ effectiveness in flattening the curve of the outbreak and policies to reopen economies.

More…http://www.nanews.net/news/africa-could-experience-economic-growth-next-year/

Written by Nordic Africa News