According to the recent Africa\u2019s Pulse – a bi-annual analysis of the state of African economies by the World Bank\u00a0–\u00a0the rate of growth in the region is moving in a positive direction though at a much slower rate than initially anticipated.<\/p>\n
\u201cThe region\u2019s economic recovery is in progress but at a slower pace than expected. To accelerate and sustain an inclusive growth momentum, policymakers must continue to focus on investments that foster human capital, reduce resource misallocation and boost productivity. Policymakers in the region must equip themselves to manage new risks arising from changes in the composition of capital flows and debt,\u201d\u00a0Albert Zeufack, World Bank Chief Economist for Africa,\u00a0stated.<\/p>\n
However, the report did highlight that the Sub-Saharan region\u2019s recovery from the 2015-2016 economic decline is positive, irrespective of the snail\u2019s pace progression attributed to\u00a0\u2018sluggish expansion\u2019 in the region\u2019s three largest economies:\u00a0Nigeria, South Africa and Angola.<\/p>\n
\u201cSlow growth is partially a reflection of a less favorable external environment for the region. Global trade and industrial activity lost momentum, as metals and agricultural prices fell due to concerns about trade tariffs and weakening demand prospects,\u201d Zeufack\u00a0explained.<\/p>\n
Lower oil production in Angola and Nigeria offset higher oil prices, and in South Africa, weak household consumption growth was compounded by a contraction in agriculture.<\/p>\n
\u201cWhile oil prices are likely to [keep] on an upward trend in 2019, metals prices may remain subdued amid muted demand, particularly in China. Financial market pressures intensified in some emerging markets and concern about their dollar-denominated debt has risen amid a stronger US dollar,\u201d\u00a0the economist added.<\/p>\n
Meanwhile, Cote d\u2019Ivoire, Kenya and Rwanda have been experiencing\u00a0positive\u00a0economic activity supported by agricultural production and public investment.<\/p>\n
Africa\u2019s Pulse\u00a0added that more investment\u00a0in\u00a0workers, non-resource\u00a0and\u00a0job\u00a0sectors is still a major requirement for sustainable growth in the Sub-Saharan region.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to the recent Africa\u2019s Pulse – a bi-annual analysis of the state of African economies by the World Bank\u00a0–\u00a0the rate of growth in the region is moving in a positive direction though at a much slower rate than initially anticipated. \u201cThe region\u2019s economic recovery is in progress but at a slower pace than expected. To accelerate and sustain an… Read more »<\/a><\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2055","post","type-post","status-publish","format-standard","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/comments?post=2055"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2055\/revisions"}],"predecessor-version":[{"id":2056,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/posts\/2055\/revisions\/2056"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/media?parent=2055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/categories?post=2055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/subsaharanafricablog\/wp-json\/wp\/v2\/tags?post=2055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}