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African Development Bank (AfDB), 1 March 2023
African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank has projected in a new… Read more »
African Development Bank (Abidjan)
Africa's Average GDP Growth to Stabilize in 2023-2024 - AfDB
African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank has projected in a new report. The report, Africa's Macroeconomic Performance and Outlook (MEO) 2023, estimates Africa's average GDP to stabilize at 4% in the next two years, up from 3.8% in 2022.
More on the AfDB's AllAfrica page.
InFocus
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Africa is set to outperform the rest of the world in economic growth over the next two years, with real gross domestic product (GDP) averaging around 4% in 2023 and 2024. This is higher than projected global averages of 2.7% and 3.2%, the African Development Bank Group said its Africa's Macroeconomic Performance and Outlook report for the region, released in Abidjan.
More on the AfDB AllAfrica page.
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The African Economic Outlook is an annual report that provides updates and forecasts of the continent's economic performance. The theme of the 2020 report is developing Africa's 'Workforce for the Future.' According to the report two-thirds of Africa's youth are either overeducated or undereducated. The undereducated share (nearly 55 percent) is considerably higher than in other regions (36 percent).
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As a leading African institution, the African Development Bank was the first to provide headline numbers on Africa's macroeconomic performance and outlook in 2018 by launching this year's edition of its yearly flagship report, the African Economic Outlook (AEO), on Wednesday, January 17, 2018. AfDB President Akin Adesina acknowledged that "for the first time in the history of the Bank, it published its own African Economic Outlook - alone!" and "that's the kind of African
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