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Africa

Growth in Africa is estimated to reach 2.4 percent in 2017, after declining to 1.3 percent in 2016. The rise in growth due to a modest recovery in Angola, Nigeria, and South Africa—the region’s largest economies—supported by an improvement in commodity prices, favorable global financing conditions, and slowing inflation that helped to lift household demand.

According to World Bank growth in the region is projected to continue to rise to 3.2 percent in 2018 and to 3.5 in 2019, on the back of firming commodity prices and gradually strengthening domestic demand. However, growth will remain below pre-crisis averages, partly reflecting a struggle in larger economies to boost private investment.   

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