Launch of IMF Regional Economic Outlook for SSA

KBG’s Project Lead attended the launch and working seminar on the IMF’s Regional Economic Outlook for Sub-Saharan Africa earlier this week at the Strathmore Business School. The Outlook report gives projections and expected economic trends for the region in the coming year and succinctly analyses the current situation facing most African economies within the Global context.

Growth is expected to reach 2.6 percent in 2017, but the pickup reflects one-off factors, notably a recovery in oil production in Nigeria and the easing of drought conditions in eastern and southern Africa. While a third of the countries in the region continue to grow at 5 percent or more, 12 countries home to 40 percent of the region’s population are expected to see per capita income decline. The external environment has improved somewhat, facilitating sovereign bond issuances by the region’s frontier economies. Foreign exchange market pressures appear to have abated, but international reserves remain low in many countries. Public debt has been rising rapidly across the region, including in the fast-growing economies. In this context, implementing the planned fiscal consolidations and reforms to tackle constraints on growth are the key policy priorities.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *