Wednesday, May 19, 2021

African economies to grow 3.7 percent this year, 4.5 percent in 2017: AfDB

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Babatunde Akinsolahttps://naija247news.com
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

The  president of the African Development Bank (AfDB) Akinwumi Adesina of Nigeria speaks during his investiture ceremony in Abidjan September 1, 2015.   REUTERS/Luc Gnago
The president of the African Development Bank (AfDB) Akinwumi Adesina of Nigeria speaks during his investiture ceremony in Abidjan September 1, 2015. REUTERS/Luc Gnago

Africa’s economy is likely to grow 3.7 percent this year as resilient private consumption and investment offsets the effect of a slump in commodity prices and global headwinds, the African Development Bank (AfDB) said on Monday.

Launching its latest regional economic outlook in the Zambian capital, the AfDB also said growth could accelerate to 4.5 percent next year if commodity prices recovered and the global economy strengthened.

 

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