The sports category has moved to a new website.

Sub-Saharan Africa economic growth to recover slightly in 2017

The slight rebound will be driven by a recovery in oil production in Nigeria, higher public spending ahead of elections in Angola...

IMF chief Christine Lagarde insisted that she has high hopes, especially regarding trade, after the G20 pointed to growing confidence about a global economic recovery

The slight rebound will be driven by a recovery in oil production in Nigeria, higher public spending ahead of elections in Angola, and the fading of drought effects in South Africa, the IMF said in its regional economic outlook.

However, resource-rich Nigeria, Angola and Central Africa’s six-nation CEMAC bloc are still struggling to deal with the losses caused by low oil prices, the IMF said.

“The overall weak outlook partly reflects insufficient policy adjustment,” said Abebe Aemro Selassie, Director of the IMF’s African Department, adding that this was holding back investment.

In non-oil producers such as Ivory Coast, Kenya, and Senegal, growth is expected to remain strong at over five per cent but vulnerabilities such as rising public debt are starting to emerge, it said.

For a decade, sub-Saharan African economic growth of around five per cent drew in foreign investment but that is drying up with economic growth now barely keeping up with population growth.

The World Bank also expects growth of 2.6 per cent this year, expanding to 3.2 per cent in 2018 and 3.5 per cent a year later.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Education & professional backgrounds of 5 new faces in Ruto's CS nominee list

Education & professional backgrounds of 5 new faces in Ruto's CS nominee list

Azimio coalition's future: Kalonzo confirms status amidst Ruto's proposal

Azimio coalition's future: Kalonzo confirms status amidst Ruto's proposal

Ruto retains 6 former CSs as he names 11 nominees for fresh cabinet

Ruto retains 6 former CSs as he names 11 nominees for fresh cabinet

How Ruto's austerity measures will impact retired presidents' benefits

How Ruto's austerity measures will impact retired presidents' benefits

Government's official position on Ruto's harambee promise in Nyandarua

Government's official position on Ruto's harambee promise in Nyandarua

Kware bodies: Death toll hits 10 as pathologists face investigation hurdles

Kware bodies: Death toll hits 10 as pathologists face investigation hurdles

ODM leadership addresses incident of goons disrupting Kalonzo speech

ODM leadership addresses incident of goons disrupting Kalonzo speech

Driver details High Court Judge's last moments before being found dead

Driver details High Court Judge's last moments before being found dead

Macharia Gaitho's traumatising ordeal in the hands of police & his next move

Macharia Gaitho's traumatising ordeal in the hands of police & his next move