Africa faces slow economic recovery from pandemic, says IMF
Sub-Saharan Africa is forecast to contract by a record 3% in 2020, and SA could contract by 8%
22 October 2020 - 14:57
Abuja — Sub-Saharan African economies face a slow recovery from the coronavirus pandemic and the region’s economic growth will fall behind the rest of the world next year, according to the International Monetary Fund (IMF).
GDP in the region is projected to expand 3.1% next year, compared with a forecast of 5.2% for the world economy. This partly reflects Sub-Saharan Africa’s relatively limited space for fiscal expansion, the IMF said in its regional economic outlook report published on Thursday...
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