EXPERTS KENYA 5 African countries whose 2023 economic growth 1 month ago Samuel Post Views: 107 The last quarter of 2022, saw some of the most despondent economic predictions all year round, as experts foreshadowed a global recession for 2023. While Africa is hardly exempted from this forecast, the aberrant nature of the continent’s economy makes it a little uncertain how much, if at all, global events would affect Africa’s economic growth. Regardless, much like years past, the World bank has predicted the growth trajectory for Sub-Saharan Africa in 2023. While it looks like the global recession would have an impact on some African countries, the World Bank also projected that some African countries would experience growth despite external and internal economic catalysts. In 2022, the World Bank disclosed that economic growth in Sub-Saharan Africa is set to decelerate from 4.1% in 2021 to 3.3% in 2022. However, the Bank projected that growth in Sub-Saharan Africa is set to bounce back to 3.5% in 2023 and 3.9% in 2024. A few percentage points more than 2022, but less than 2021. Some of the Bank’s regional key figures include the Southern African subregion, which is projected to grow to 4.5% in 2023 and 5.0% in 2024. The Western and Central Africa subregion is projected to grow at 5.0% in 2023 and 5.5% in 2024, excluding Nigeria. An extract from the Bank’s report reads, “amid soaring food prices and supply constraints, policy makers need to avoid making previous policy mistakes (bans or tariffs/taxes on exports and imports), and ensure international trade flows.” The bank noted that Africa could mitigate the impending economic stagnation that may hit the world if it improves on implementing policies that accelerate structural transformation through productivity-enhancing growth and creating more and better jobs. However, the bank did not fail to give data on what the growth figures for some African countries may look like in the new year. Below are five of these countries and their growth projections according to the World Bank. Kenya: According to the bank, this East African nation is set to be at 5.0% in 2023, a decrease from last year’s 5.5%. The country’s economic growth would also bump back up to 5.3% in 2024. Nigeria: The World Bank predicted that Nigeria’s economy would take a hit, slowing down in 2023 to 3.2% from 3.3% in the previous year. The Bank however noted that Nigeria’s economy would experience some growth the next year. Côte d’Ivoire: In Côte d’Ivoire the economic growth for 2023 is projected to bounce back from 5.7% in 2022 to 6.8% in the new year. This is despite slowing to 4.8% in 2022. Senegal: Economic growth in Senegal shows massive prospects, as the country’s economy is projected to grow to 8.0% in 2023 and further increase to 10.5% in 2024. Cameroon: The World Bank noted that investments and private consumption would create stability in Cameroon at 4.3% in 2023, and grow to 4.6% in 2024. Source: africa.businessinsider.com About Post Author Samuel I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. See author's posts SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: economy, grow, year 2023 Continue Reading Previous Can the Kenyan Government succeed in regulating Cryptocurrencies?Next Slotegrator opens 2023 at SiGMA Africa in January More Stories EXPERTS KENYA Gamblers Rejoice As Court Scraps Nairobi Law 2 days ago Samuel EXPERTS KENYA Court quashes betting tax, limit on gambling in 5-star hotels 3 days ago Szarlot KENYA ONLINE The State of Gaming and E-sport Space in Africa 4 days ago Samuel EXPERTS SOUTH AFRICA Only 2 Months at The BiG Africa Summit 2023! 5 days ago Iwo Bulski EXPERTS MALAWI How Will Malawi’s Economy Fare in 2023 5 days ago Samuel EXPERTS SOUTH AFRICA South Africans spent big on groceries, entertainment and fuel in December 5 days ago Szarlot EXPERTS WORLD NEWS What Will Be The Future of Sports Betting Around The World? 6 days ago Szarlot EXPERTS HOT NEWS TANZANIA Mobile Betting – How Popular is it in Africa? 6 days ago Szarlot EXPERTS RWANDA Adam Bradford launches centre to train youth in Rwanda 1 week ago Iwo Bulski EXPERTS KENYA BetEngines launches the first Sportsbook software solution tailor-made for the African market. 1 week ago Adeleye Awakan EXPERTS KENYA Ronald Karauri’s Inspiring Journey from Pilot to SportPesa Billionaire 1 week ago Szarlot KENYA ONLINE The Rise of Crypto Casinos in Kenya 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.