Africa's Pulse, No. 14, October 2016
After slowing to 3 percent in 2015, economic growth in Sub-Saharan Africa is projected to fall to 1.6 percent in 2016, the lowest level in over two decades. Low commodity prices and tight financial conditions, exacerbated by domestic headwinds from...
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| Format: | Serial |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/09/26822907/ http://hdl.handle.net/10986/25097 |
| Summary: | After slowing to 3 percent in 2015,
economic growth in Sub-Saharan Africa is projected to fall
to 1.6 percent in 2016, the lowest level in over two
decades. Low commodity prices and tight financial
conditions, exacerbated by domestic headwinds from policy
uncertainty, droughts, and political and security concerns,
continued to weigh on activity across the region. The
overall slowdown in Sub-Saharan Africa's growth
reflects economic deterioration in the region's largest
economies. Economic performance was notably weak across oil
exporters. At the same time, in about a quarter of the
countries, economic growth is showing signs of resilience.
Indeed, the pattern of growth across countries is far from
homogeneous, suggesting that Sub- Saharan Africa is growing
at diverging speeds. While many countries are registering a
sharp slippage in economic growth, some countries—Ethiopia,
Rwanda, and Tanzania—are continuing to post annual average
growth rates of over 6 percent, exceeding the top tercile of
the regional distribution; and several other
countries—including Côte d'Ivoire and Senegal—have
moved into the top tercile of performers. The
"established" and "improved" performers
tend to have stronger quality of monetary and fiscal
policies, better business regulatory environment, more
diverse structure of exports, and more effective public institutions. |
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