Prospects for Sub-Saharan African economies in 2023

Subject

Prospects for Sub-Saharan African economies in 2023

Significance

Economic growth in Sub-Saharan Africa is expected to reach 3.7% in 2023, according to the IMF, compared with a projected 3.6% in 2022. Slowing global growth, higher external borrowing costs and weaker domestic currencies are now the dominant factors weighing on the region’s economies next year.