Economic growth in sub-Saharan Africa to fall to 1.6 per cent

KAMPALA, Uganda – A new World Bank report says economic growth across sub-Saharan Africa is projected to fall to 1.6 per cent in 2016, the lowest level in more than two decades. Growth was 3 per cent last year.

The report released Thursday says the weak growth mainly reflects the deteriorating performance of the continent’s largest economies, Nigeria and South Africa. Together, they account for half the region’s economic output.

The report notes, however, that some countries such as Senegal and Ethiopia are posting annual growth rates surpassing 6 per cent.

The World Bank sees growth in sub-Saharan Africa rising to 2.9 per cent in 2017.

The report analyzing the state of African economies is issued twice a year.