- According to the African Development Bank’s Macroeconomic report, Africa will dominate the world’s 20 fastest growing economies 2024.
- According to the report, the medium-term growth outlook for the continent’s five regions is slowly improving.
- The report forecasts more substantial growth for Africa in 2024, outpacing the projected global average; the continent is the second-fastest-growing region after Asia.
Fastest Growing Economies 2024
The African Development Bank Group’s latest Macroeconomic Performance and Outlook (MEO) indicates real Gross Domestic Product (GDP) growth for the continent is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025, respectively.
The report said this is higher than projected global averages of 2.9 and 3.2 per cent, with Africa remaining the second-fastest-growing region after Asia.
The top 11 African countries projected to experience economic solid performance forecast are Niger (11.2 per cent), Senegal (8.2 per cent), Libya (7.9 per cent), Rwanda (7.2 per …
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