By BUUMBA CHIMBULUGROWTH in Sub Saharan Africa (SSA) is projected to firm to 3.6 percent and 3.8 percent in 2022 and 2023, respectively, supported by elevated commodity prices as activity continues to rebound in the region’s main trading partners.This is after growth in the region reached an estimated 3.5 percent in 2021, supported by a rebound in commodity prices and a gradual easing of social restrictions. According to the World Bank Global Economic Prospects for January 2022, the near-term recovery was expected to persist supported by elevated commodity prices as activity continued to rebound in the region’s main trading partners (China, the Euro area, and the United States).The World Bank however indicated that growth would be at a slower pace than last year. “The outlook is also predicated on a gradual recovery in tourism, with vaccinations in some tourism-reliant economies already proceeding at a much faster pace than in the rest of the region. “Projected […]
SUB-SAHARAN AFRICA TO EXPAND FURTHER – WB
