AfDB Economic Outlook shows decline in regional economies
The African Development Bank has expanded its flagship publication, the African Economic Outlook, with five regional reports: North Africa, West Africa, Central Africa, Eastern Africa, and Southern Africa.
It finds East Africa recorded the continent's best economic performance with a GDP growth rate of 5.9% in 2017, while North Africa ended 2017 with growth of 4.9% of real GDP, up from 3.3% in 2016. The region's economic performance is above a 3.6% average for the continent, thanks in part to higher than expected oil production in Libya.
After several good years in West Africa, economic growth stagnated at 0.5% in 2016, while Central African recorded 0.9% real GDP in 2017, the lowest growth rate of the continent. In Southern Africa, real GDP growth is expected to improve to 2% in 2018 and 2.4% in 2019.
