The International Monetary Fund has scaled down growth predictions for the Sub-Saharan Africa region.
The latest regional economic outlook report from the Bretton Woods institution launched on Tuesday indicates that the area’s economy is expected to expand by 3.75 per cent this year and pick up to 4.25 per cent next year.
Sub-Saharan Africa grew by an average 5 per cent last year, according to the IMF report.
“Of the three factors that have underpinned the region’s solid performance of the last decade or so — a much improved business and macro-economic environment, high commodity prices and highly accommodative global financial conditions — the latter two have become far less supportive,” reads the report. Read more. Source | Daily Nation