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Economic growth in Sub-Saharan Africa is estimated to have decelerated from 2.5 percent in 2017 to 2.3 percent in 2018, below the rate of growth of population for a fourth consecutive year. Regional growth in 2018 is below the pace projected in 2018 October issue of Africa's Pulse {0.4 percentage points lower). This slowdown was more pronounced in the first half of 2018 and it reflected weaker exports among the region's large oil exporters (Nigeria and Angola) due to dwindling oil production amid higher but volatile international prices for crude petroleum. A deeper contraction in Sudanese economic activity and a broad-based growth slowdown among non-resource-intensive countries also played ...
"The analysis of the distributional impact of policy reforms on the well-being or welfare of different stakeholder groups, particularly on th e poor and vulnerable, has an important role in the elaboration and implementation of poverty reduction strategies in developing countries. In recent years this type of work has been labeled as Poverty and Social Impact Analysis (PSIA) and is increasingly implemented to promote evidence-based policy choices and foster debate on policy reform options. While information is available on the general approach, techniques, and tools for distributional analysis, each sector displays a series of specific characteristics. These have implications for the analysi...
Sub-Saharan Africa's recovery from the pandemic is expected to decelerate in 2022 amid a slowdown in global economic activity, continued supply constraints, outbreaks of new coronavirus variants, climatic shocks, high inflation, and rising financial risks due to high and increasingly vulnerable debt levels. The war in Ukraine has exacerbated the already existing tensions and vulnerabilities affecting the continent. Given the sources of growth in the region and the nature of the economic linkages with Russia and Ukraine, the war in Ukraine might have a marginal impact on economic growth and on overall poverty—as this shock affects mostly the urban poor and vulnerable people living just abov...
African economies are facing a series of challenges to their post-pandemic recovery. Economic activity in the region is slowing to 3.3 percent amid global headwinds, including weak global growth and tightening global financial conditions. Elevated inflation rates and resulting policy tightening, as well as the rising risk of debt distress, are also impacting economic activity. While food insecurity in Sub-Saharan Africa was increasing before the onset of Covid-19, the pandemic and the food and energy crisis have contributed to the recent steep increase in food insecurity and malnutrition. Climate shocks, low productivity in agriculture, lack of infrastructure also contribute to rising food insecurity in the region. The economic fallout from the multiple crises affecting the region has lowered household incomes, increased poverty, widen inequality and heightened food insecurity. This report discusses short-term measures combined with medium- to long-term policy actions that can strengthen African countries' capacity to build resilience and seize opportunities to unlock productivity-enhancing growth while protecting the poor and vulnerable.
"Africa's Pulse is a biannual publication containing an analysis of the near-term macroeconomic outlook for the region. Each issue also includes a section focusing upon a topic that represents a particular development challenge for the continent. It is produced by the Office of the Chief Economist for the Africa Region of the World Bank. Recent data point to a weakening of economic growth in Sub-Saharan Africa in 2018, according to the new Africa's Pulse, a bi-annual analysis of the state of African economies conducted by the World Bank. The growth slowdown can be attributed to the lower than expected performance of the large countries in the region (South Africa and Nigeria). The downswing reflects poorer performance in agriculture following droughts and lower performance of commodity sectors."
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Growth in sub-Saharan Africa has slightly recovered in 2019 (2.6 percent) from 2.5 percent in 2018. Economic recovery continues at a sluggish pace with growth in the region expected to pick up to 3 .1 percent in 2020 and 3 .2 percent in 2021. Accelerating poverty reduction in Africa requires action in four policy areas: fertility reduction, leveraging the food system on and off the farm, addressing risk and conflict, and providing more public financing to the poverty reduction agenda. Sustaining growth and eradicating poverty calls for policy solutions to empower African women in the following dimensions: building the right skills, relieving capital constraints, securing land rights, connecting women to labor, addressing social norms that limit women's economic opportunities, and boosting the capacity of the next generation.
The COVID-19 pandemic has taken a toll on human life and brought major disruption to economic activity across the world. Despite a late arrival, the COVID-19 virus has spread rapidly across Sub-Saharan Africa in recent weeks. Economic growth in Sub-Saharan Africa is projected to decline from 2.4 percent in 2019 to -2.1 to -5.1 percent in 2020, the first recession in the region in 25 years. The coronavirus is hitting the region’s three largest economies —Nigeria, South Africa, and Angola— in a context of persistently weak growth and investment. In particular, countries that depend on oil and mining exports would be hit the hardest. The negative impact of the COVID-19 crisis on household...
The economic impact of the COVID-19 pandemic in Sub-Saharan Africa has been severe; however, countries are weathering the storm so far. Real GDP is estimated to contract by 2.0 percent in 2020—close to the lower bound of the forecast range in April 2020, and less than the contraction in advanced economies and other emerging markets and developing economies, excluding China. Available data from the second half of 2020 point to rebound in economic activity that explain why the contraction in the region was in the lower bound of the forecasts. It reflected a slower spread of the virus and lower COVID-19-related mortality in the region, strong agricultural growth, and a faster-than-expected re...