Trade body warns of unrest as economic growth remains poor in SA and Africa
An Unctad report notes the weak growth trajectory of Africa’s three largest economies, Nigeria, Egypt and SA, which together account for about 60% of Africa’s GDP
Growth prospects in SA and across the continent have deteriorated, which threatens to push millions of Africans into poverty and exacerbate social unrest amid acute risks of food insecurity, the UN Conference of Trade and Development (Unctad) warned in a new report published Monday.
Unctad said the sharp economic slowdown reflected several new challenges across the continent and the world. These include high international food and fuel prices, financial shocks owing to the stronger-than-anticipated tightening of monetary policy in advanced economies and acute risks of food insecurity in many parts of Africa...
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