The World Bank forecasts that sub-Saharan African economies will grow by up to 3.4% this year, after a 2% contraction, with Angola expected to grow by 0.9% this year and 3.5% in 2022.
According to the Africa Pulse report, released yesterday in Washington, the economies of this region contracted 2% last year, “near the lower end of the forecast made in April 2020, and prospects for recovery are strengthening due to measures to contain new waves of the pandemic and increase the speed of vaccine distribution.”
The document does not present the growth forecast for all economies, showing only the regional average, although it does reveal individual data for the region’s largest economies, such as Angola, which is expected to grow 0.9% this year and 3.5% in 2022.
Titled “The Future of Work in Africa: Emerging Trends in Adapting to Digital Technology,” the report produced by the office of the chief economist points out that “economic recovery depends on deepening reforms that create jobs, encourage investment, and improve competitiveness.”
On the other hand, “the resurgence of the pandemic in late 2020 and the limited room for budgetary support will pose challenges for policymakers.”
For the World Bank’s chief economist for Africa, Albert G. Zeufack, “African countries have made tremendous investments in the past year to keep their economies afloat and protect the lives and incomes of their people.”
However, he says there is still a need to ensure “ambitious reforms that support job creation, strengthen equitable growth, proctect the vulnerable, and contribute to environmental sustainability, which will be key to ensuring that these efforts translate into a stronger recovery on the African continent.”
