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Regional Economic Outlook

Published on October 29, 2015

Regional_Economic_Outlook.JPGRegional Economic Outlook. Sub-Saharan Africa enjoyed robust economic growth of 5 percent in 2014 driven by strong investment in mining and infrastructure and by strong private consumption, especially in low income countries (Table 1.2). However, growth was down slightly from the previous year as oil exporters started to adjust to the lower global oil prices, growth in South Africa decelerated substantially on account of mining strikes and electricity supply constraints, and the countries at the epicenter of the Ebola outbreak were severely impacted by the epidemic. Activity is expected to decelerate further in 2015, although with growth at 4.5 percent, sub-Saharan Africa will remain among the fastest-growing regions of the world. The slowdown mainly reflects difficulties in the region’s oil exporters and the countries impacted by the Ebola outbreak. Excluding these countries and South Africa, growth is projected to be healthy, even if the impact of the oil price decline is largely offset by that of the decrease in other commodity prices.