Skip to content
Subscriber Only
Markets
Economics

Africa to Fall Behind World Growth as Region Faces Slow Recovery

  • Continent may return to pre-crisis growth levels by 2022: IMF
  • Regional economy to contract 3% this year, grow 3.1% in 2021
It will take at least until 2022 for the region to return to pre-crisis economic growth levels, the IMF said.

It will take at least until 2022 for the region to return to pre-crisis economic growth levels, the IMF said.

Photographer: KC Nwakalor/Bloomberg

Sub-Saharan African economies face a slow recovery from the coronavirus pandemic and the region’s economic growth will fall behind the rest of the world next year, according to the International Monetary Fund.

Gross domestic product in the region is projected to expand 3.1% next year, compared with a forecast of 5.2% for the world economy. This partly reflects sub-Saharan Africa’s relatively limited space for fiscal expansion, the Washington-based lender said in its Regional Economic Outlook report published Thursday.