Africa remains the second-fastest growing economic region after East Asia, says a report. It, however, notes there is need for a higher expansion rate, if the continent is to make a meaningful dent in poverty levels.
The report by the African Development Bank (AfDB) said the continent’s average growth is projected at 3.7 per cent in 2016 and will pick up to 4.5 per cent in 2017, provided the world economy strengthens and commodity prices gradually recover.
Titled African Economic Outlook 2016, the survey says Africa’s economic performance held firm in 2015 amid global headwinds and regional shocks. Read more. Source | Daily Nation