African Economic Outlook 2020

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African Union

Africa’s economic outlook continues to brighten. Its real GDP growth, estimated at 3.4 percent for 2019, is projected to accelerate to 3.9 percent in 2020 and to 4.1 percent in 2021. Leading the way are six economies among the world’s 10 fastest growers: Rwanda, Ethiopia, Côte d’Ivoire, Ghana, Tanzania, and Benin.

Growth’s fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. And for the first time in a decade, investment accounted for more than half the continent’s growth, with pri- vate consumption accounting for less than one third.


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