AFRICA – African economies will grow by 5.2 per cent annually in 2015/2016, up from the current 4.6 per cent, the World Bank projects.
The bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping the continent’s economic prospects, however, warns that the Ebola threat and terrorism may upset growth.
The forecast notes that significant public investment in infrastructure, increased agricultural production and expanding services in African retail, telecoms, transportation, and finance, are expected to continue boosting growth in the region.
Despite weaker than expected global growth and stable or declining commodity prices, the World Bank says African economies continue to expand at a moderately rapid pace.
“Africa is forecast to remain one of the world’s three fastest growing regions,” says Francisco Ferreira, the bank’s chief economist for Africa.