Africa’s economic growth dipped to 3.2% in 2023, falling short of the 4.1% recorded in 2022, the African Development Bank (AfDB) reported. Despite the slowdown, the bank projected a return to faster growth for most regions in 2024, with the exception of Central Africa. However, amid the challenges, 15 African countries defied the trend, achieving economic growth exceeding 5% in 2023. Looking forward, the AfDB forecasts an upswing in growth for all regions except Central Africa in 2024. East Africa is expected to lead the pack with 5.7% growth, while Southern Africa remains the laggard at 2.2%.

Source: Daily News Egypt February 20, 2024 04:01 UTC