Africa African Union DFI Economy FA Finance Report

Sub-saharan Africa Economic Outlook report published

The latest Regional Economic Outlook for sub-Saharan #Africa discusses policies needed to build a better future for the region. Sub-Saharan Africa is contending with an unprecedented health and economic crisis – one that, in just a few months, has jeopardized years of hard-won development gains and upended the lives and livelihoods of millions.

The current outlook for 2020–21 is broadly in line with the June update, with activity in 2020 projected to contract by an extraordinary –3.0 percent, still representing the worst outcome on record. For 2021, regional growth should recover modestly to 3.1 percent, but many countries will not return to 2019 levels of output until 2022–24. And even this outcome is subject to some key downside risks, particularly regarding the ongoing path of the coronavirus disease (COVID-19) pandemic, the resilience of the region’s hard-pressed health systems, and the outlook for external financing.

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