Africa : AfDB very optimistic about the growth of the continent in 2019

In Africa, despite the slowdown due to falling commodity prices, the African economy remains dynamic. Photo: AFP

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NEWSROOM (ADV) – The growth of the African economy is expected to be 4% in 2019 and reach 4.1% in 2020, being “more sustained than in other emerging and developing economies as a whole,” according to the 2019 edition report of the African Development Bank (AfDB) Economic Outlook for Africa released Thursday in Abidjan.

The growth of the continent has so far been supported by investment and exports, as well as by the improvement of the macroeconomic environment and a “modest” rise in commodity prices.

After growing 2.1% in 2016, Africa’s economy recovered to 3.6% in 2017 and 3.5% in 2018.

East Africa leads with GDP growth estimated at 5.7% in 2018, followed by North Africa at 4.9%, West Africa at 3.3% from Central Africa to 2.2% and Southern Africa to 1.2%.

In 2019, according to the report, 40% of African countries are expected to grow at least 5%.

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