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Davos: Global economists see bright spots in Africa growth prospects

Davos: Global economists see bright spots in Africa growth prospects

TOP economists agree that Africa's economic prospects for 2024 are positive, as small countries sparkle in the face of sluggish global growth projections. Chief economists from the World Economic Forum, World Bank and United Nations project Africa’s economy will defy the impacts of weak investments, debt crises, inflation, tight financial conditions and extreme weather patterns to record an improvement over 2023. A strong majority (65%) of World Economic Forum Chief Economists expect most of the continent to record at least moderate growth, according to the World Economic Forum Chief Economists Outlook 2024. This comes against a background in which 56%…
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Good prospects for African economy

Good prospects for African economy

CONRAD ONYANGO, BIRD STORY AGENCY GLOBAL economists see Africa’s economy in 2022 as presenting a mixed bag, with, on one hand, debt and drought shocks that will slow growth and on the other hand, the dual effects of a Russia-Ukraine war will that could create a boom or bust for some countries. Metal exporting countries are tipped to gain from higher budget receipts as the Russian-Ukraine conflict unlocks their investment potential. Conversely, import-reliant nations will experience fiscal constraints on the back of a higher cost of food and fuel prices triggered by the war in Europe, as well as civil…
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