North Africa: A Positive Outlook for 2018 and 2019 - African Development Bank's Economic Outlook 2018
- Publication Date:
- 9 March 2018
North Africa ended 2017 with growth of 4.9% of real GDP, up from 3.3% recorded in 2016. The region's economic performance is above a 3.6% average for the continent, thanks to higher than expected oil production in Libya and the performance of Morocco, which saw growth rise from 1.2% in 2016 to 4.1% in 2017, on account of increased agricultural productivity. Egypt's macroeconomic and structural reforms led to a 4% growth in 2017. Overall, growth in the North Africa region was fueled by new high value-added sectors such as electronics and mechanics, as well as private and public consumption. The region's outlook remains positive for 2018 and 2019, on account of structural reforms. Growth in North Africa is expected to reach 5% and 4.6% respectively in 2018 and 2019.
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 ... Read more »