- Business Insider presents the top 10 African countries with the highest GDP projections for 2023.
- This list is courtesy of a bi annual report from the Africa Development Bank.
- The bank notes that Africa would perform better economically, than what has been predicted so far.
The narrative surrounding Africa’s projected 2023 economic performance and even the world at large may appear discouraging, depending on the source. However, the reverse can also be said, if a different source is referenced.
Numerous economists from across the globe, since the last quarter of 2022, have deduced that the world may face some of the same economic challenges it did in 2022, resulting in a similar or even worse fiscal turnout. Some economists even went as far as predicting a global recession based on metric systems and formulas believed to be systematic.
However, according to the inaugural edition of the African Development Bank’s (AfDB) Macroeconomics Performance and Outlook Report for January 2023, Africa’s GDP growth is projected to average about 4% in 2023 and 2024, higher than the projected world averages of 2.7% and 3.2%, respectively.