Around 22 countries will record growth rates above 5%, said the African Development Bank’s 2023 African Economic Outlook report. As a result, inflation remained elevated across the continent and reached double digits in 18 African countries. “To fully harness their natural resource potential for climate finance and green growth, African countries should improve the governance of their natural resources. They also include improving natural capital and sovereign credit risk factors to earn a better rating. “African countries need a strong and sustained commitment to carry out public policy reforms to ensure that natural resource wealth drives sustainable economic development.

Source: The North Africa Journal May 26, 2023 10:20 UTC