Africa’s average GDP growth projected to tick higher in 2020
CAPE TOWN – Gross domestic product growth in Africa is projected to average 3.2 percent this year, accelerating slightly from 2.9 percent in 2019, a United Nations report due to be released next week will show.
The 2020 World Economic Situation Prospects Report, to be launched regionally in Johannesburg next Wednesday, however shows that GDP per capita for the continent as a whole grew by only by half a percent annually in the past decade.
The report will show the global economy suffered its lowest growth in a decade, slipping to 2.3 percent last year, as trade disputes impacted economic activity, the United Nations Information Centre (UNIC) said in an invitation to next week’s launch.
The world could however see a slight uptick in growth in 2020, if risks are kept at bay.
South Africa’s economic growth is estimated at 0.5 percent for 2019, well below potential. The outlook remains bleak as the economy continues to be negatively affected by policy uncertainty, weak business sentiment and limited fiscal policy space.
Source: iol.co.za
