The World Bank has revised its economic growth forecast for the Sub-Saharan Africa (SSA) downward to 3% for this year, a drop from the initial 3.4% projection made in April.
The region's growth has been slowing down, with the three largest economies - Nigeria, South Africa, and Angola - experiencing a significant slowdown, averaging only 1.8% growth last year.
The World Bank's latest report, Africa Pulse published on Monday, highlights these challenges and provides valuable insights into the region's economic prospects.
It's essential for policymakers and stakeholders to address these issues to foster sustainable growth and development in Sub-Saharan Africa.
“The high cost of living, corruption, and, more broadly, weak governance have triggered protests and palpable anger among the youth in Kenya, Nigeria, and Uganda – unrest that could spread throughout the region,” the World Bank warned...
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