16-October-2024
Economy News
 
World Bank Cuts 2024 Growth Forecast for Sub-Saharan Africa Over Sudan
15-Oct-2024

The World Bank said on Monday it had lowered its economic growth forecast for sub-Saharan Africa this year to 3% from 3.4%, mainly due to the destruction of Sudan's economy in a civil war. However, growth is expected to remain comfortably above last year's 2.4% thanks to higher private consumption and investment, the bank said in its latest regional economic outlook report, Africa's Pulse. "This is still a recovery that is basically in slow gear," Andrew Dabalen, chief economist for the Africa region at the World Bank, told a media briefing.

News Source:- https://money.usnews.com/investing/news/articles/2024-10-14/world-bank-cuts-2024-growth-forecast-for-sub-saharan-africa-over-sudan