{"id":21975,"date":"2023-11-11T07:00:00","date_gmt":"2023-11-11T06:00:00","guid":{"rendered":"https:\/\/ecomnewsafrique.com\/?post_type=news&#038;p=21975"},"modified":"2023-11-10T15:08:47","modified_gmt":"2023-11-10T14:08:47","slug":"africa-average-economic-growth-in-sub-saharan-african-countries-is-expected-to-fall-to-3-3-in-2023-from-4-in-2022-before-rising-to-4-in-2024","status":"publish","type":"news","link":"https:\/\/ecomnewsafrique.com\/en\/2023\/11\/11\/africa-average-economic-growth-in-sub-saharan-african-countries-is-expected-to-fall-to-3-3-in-2023-from-4-in-2022-before-rising-to-4-in-2024\/","title":{"rendered":"Africa: Average economic growth in sub-Saharan African countries is expected to fall to 3.3% in 2023 from 4% in 2022, before rising to 4% in 2024"},"content":"\n  \n    \n      \nAverage economic growth in sub-Saharan African countries is expected to fall to 3.3% in 2023 from 4% in 2022, before rising to 4% in 2024, the International Monetary Fund (IMF) announced in its outlook update of the world economy, published Tuesday, October 10, on the occasion of the annual meetings of the institution and the World Bank in Marrakech, Morocco.\n\n    \n  \n\n\n  \n    \n      \nThese new estimates are lower than the forecasts announced by the IMF last July, when it indicated that the region would experience growth of 3.5% in 2023 and 4.1% in 2024.\n\n    \n  \n\n\n  \n    \n      \n\u201cThe projected decline in growth compared to 2022 reflects worsening weather shocks, the slowdown in the global economy and domestic supply problems, particularly in the electricity sector,\u201d explains the IMF.\n\n    \n  \n\n\n  \n    \n      \nIn Nigeria, economic growth is expected to increase from 3.3% in 2022 to 2.9% in 2023, before reaching 3.1% in 2024. For Africa&#8217;s leading economic power, the forecasts for 2023 have been reduced by 0 .3 percentage points from July, reflecting lower-than-expected oil and gas production and higher inflation following the removal of fuel subsidies and the devaluation of the naira.\n\n    \n  \n\n\n  \n    \n      \nIn South Africa, growth is expected to fall from 1.9% in 2022 to 0.9% in 2023, due in particular to the energy crisis hitting this country. However, these new forecasts are up 0.6 percentage points from the Fund&#8217;s previous estimates from last July, as the intensity of electricity shortages declined during the second quarter of 2023.\n\n    \n  \n\n\n  \n    \n      \nAngola&#8217;s growth forecast for 2023 was, however, reduced from 3.5% to 1.3%.\n\n    \n  \n\n\n  \n    \n      \nThe IMF also indicated that the growth of the Kenyan economy should accelerate to reach 5% in 2023 against 4.8% in 2022, despite budget cuts made by the government in a context of soaring services. debt. Tanzania and Senegal are also expected to record higher growth rates this year.\n\n    \n  \n\n\n  \n    \n      \nAverage annual inflation in sub-Saharan Africa is expected to rise to 16.2% at the end of this year, almost identical to that recorded at the end of 2022. Regionally, inflation However, the average should decline next year to 10.5%.\n\n    \n  \n\n","author":116,"featured_media":18871,"comment_status":"open","ping_status":"closed","template":"","tags":[713,699],"location":[505],"class_list":["post-21975","news","type-news","status-publish","has-post-thumbnail","hentry","tag-economic-analysis","tag-economy","location-africa"],"short_url":"https:\/\/bit.ly\/3spL4mc","have_related_news":"done","chapo":"The institution emphasizes that the decline in regional growth during the current year reflects the worsening of weather shocks, the slowdown of the global economy and domestic supply problems, particularly in the transport sector. 'electricity.","media":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2023\/01\/djibouti-550x360.jpeg","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2023\/01\/djibouti-550x360.jpeg 550w","sizes":"550px","alt":"djibouti","width":550,"height":360,"ratio":0.56,"credit_photo":""},"media-news-header":{"src":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2023\/01\/djibouti.jpeg","srcset":"https:\/\/ecomnewsafrique.com\/app\/uploads\/sites\/4\/2023\/01\/djibouti.jpeg 1170w","sizes":"1170px","alt":"djibouti","width":1170,"height":658,"ratio":0.56,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Africa: Average economic growth in sub-Saharan African countries is expected to fall to 3.3% in 2023 from 4% in 2022, before rising to 4% in 2024 - Ecomnews Afrique<\/title>\n<meta name=\"description\" content=\"Average economic growth in sub-Saharan African countries is expected to fall to 3.3% in 2023 from 4% in 2022, before rising to 4% in 2024, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ecomnewsafrique.com\/en\/2023\/11\/11\/africa-average-economic-growth-in-sub-saharan-african-countries-is-expected-to-fall-to-3-3-in-2023-from-4-in-2022-before-rising-to-4-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa: Average economic growth in sub-Saharan African countries is expected to fall to 3.3% in 2023 from 4% in 2022, before rising to 4% in 2024 - 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