Sub-Saharan Africa poised for 3.4% GDP in 2021 – World Bank

Sub-Saharan Africa poised for 3.4% GDP in 2021 – World Bank

The World Bank Wednesday said it expects growth in Sub-Saharan Africa this year to rise to between 2.3 and 3.4%, compared with the 2.7% it projected for the region in January.

The Bank, which made the forecast in its latest Africa Pulse report titled: “The Future of Work in Africa: Emerging Trends in Digital Technology Adoption,” however, said its projection depends on the policies adopted by countries and the international community.

Although the report notes that a slower spread of the virus and lower COVID-19 related mortality, strong agricultural growth, as well as a faster-than expected recovery in commodity prices, have helped mitigate the impact of the COVID-19 crisis on many African economies, recovery will hinge on countries deepening reforms that create jobs, encourage investment, and enhance competitiveness.

According to the report, the resurgence of the pandemic in late 2020 and limited additional fiscal support will pose a challenge for policy makers as they continue to work toward stronger growth and improved livelihoods for their people.

It also said that a second wave of COVID-19 infections is partly dragging down the 2021 growth projections, with daily infections about 40% higher than during the first wave.

The report pointed out that while some countries had a significant drop in infections due to containment measures adopted by their governments, others are facing an upward trend in infections.