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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Economic growth in Sub-Saharan Africa is showing some resilience despite uncertainty in the global economy and restricted fiscal space, the World Bank has revealed.
According to the Bretton Woods institution, regional growth is expected to reach 3.5% in 2025 and further accelerate to 4.3% in 2026-2027.
This growth is mainly due to increased private consumption and investments as inflation cools down and currencies stabilize.
The median inflation rate in the region declined from 7.1% in 2023 to 4.5% in 2024.
However, growth is still not strong enough to significantly reduce poverty and meet people’s aspirations – a core concern of the 31st edition of Africa’s Pulse, which focuses on Improving Governance and Delivering for People in Africa.
Source: newsthemegh.com