Sub-Saharan Africa’s (SSA) growth forecast by the International Monetary Fund (IMF) has been marginally upgraded by 0.2% to 4.6%.
Macroeconomic stabilisation and structural reform efforts by the region’s strongest economies are expected to support recovery and growth resilience across the region, the IMF says in its latest glob outlook report – ‘Global Economy: Steady and Divergent Forces’.
Apart from representing an increase on October’s 4.4% growth projection for SSA, a growth forecast of 0.1% is predicted for 2027.
Growth across the region is predicted to outpace global growth by more than one percent.
Global growth is also expected to slow from 3.3% to 3.2% by 2027.
Overall performance across the world is attributed to “a balance of divergent forces”, the IMF has said.
News service Lusa reports that “obstacles arising from changes in trade policies are offset by favourable factors from increased technology-related investments, including artificial intelligence, especially in North America and Asia”.
The IMF has identified fiscal and monetary support, favourable financial conditions across the board, and private-sector resilience as factors feeding into an overall strengthening outlook.
