Prospects for African economies in 2017

Subject

Prospects for African economies in 2017.

Significance

The IMF anticipates a modest economic recovery in sub-Saharan Africa for 2017, after 2016 produced the lowest growth on the continent in more than two decades. GDP in 2017 is expected to rise by a modest average of 2.9%, just sufficient to stabilise average per capita incomes. Prospects vary significantly across the continent; however, all countries still need to complete politically difficult fiscal adjustments initiated in 2016 to restore macroeconomic stability and deepen resilience.