AfDB forecasts faster recovery for African economies
AfDB president Akinwumi Adesina who has said that the recovery and resilience of Africa's economies come with “cautious optimism” as there are several headwinds still facing the globe’s emerging markets. PHOTO | FILE | NMG
Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
African Development Bank (AfDB) says the continent’s economies are expected to grow faster than global projections this year, but budget and trade deficits will continue to weigh down most of the countries as risks persist.
In its Africa’s Macroeconomic Performance and Outlook report released Thursday, the AfDB said the continent’s GDP growth rate decelerated to 3.8 percent in 2022. It is expected to improve to four percent this year, the report said.
