African economies could shrink 3.4% in 2020 due to Covid-19, says AfDB
07 July 2020 - 22:17
Abidjan — The African Development Bank (AfDB) cut its forecast for economic growth on the continent because of the impact of the coronavirus and now sees GDP contracting by at least 1.7% in 2020, and double that if the pandemic continues into the second half of 2020.
That new projections released in a supplement to its Economic Outlook on Tuesday compared with a January forecast of 3.9% growth. If the disease isn’t swiftly addressed, Africa faces a major humanitarian and public health disaster, according to the report...
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