| Africa: A Quick Look At Africa 2024 Through GDP's
January 4, 2024--With the arrival of 2024, various financial institutions have disclosed their projections for the African continent in the new fiscal year. In line with the predictions of experts, there is a growth expectation of 4.2% in the general perspective for the African continent (IMF). Private consumption and investment are predicted to drive an acceleration in gross domestic product (GDP) for roughly 80 per cent of countries by 2024. |
| While the growth rate in the continental economy was 3.9 per cent throughout 2022, this number decreased to 3.6 per cent in 2023. Among the main factors of this performance decline are the interest rates increased by the central bank against global inflation and the profound impact of the war in Ukraine on global commercial activity and the resulting intercontinental trade vulnerabilities. |