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Sub-Saharan Africa growing at slow pace-World Bank

Augustine Myers/Benjamin S. Taingay

(elbcradio.com/Oct 7, 2015)-The World Bank says Sub-Saharan African Countries are growing at a slower pace, due to a more challenging economic environment.

A new World Bank projection indicates that growth will slow in 2015 to 3.7% from 4.6% in 2014, reaching the lowest growth rate since 2009.

A dispatch from Washington D.C. said: “The latest figures are outlined in the World Bank’s new Africa’s Pulse, the twice-yearly analysis of economic trends and the latest data on the continent.”

The 2015 forecast remains below the robust 6.5% growth in GDP which the region sustained in 2003-2008, and drags below the 4.5% growth, following the global financial crisis in 2009-2014.

Overall, growth in the region is projected to pick up to 4.4 in 2016, and further strengthen to 4.8 in 2017.

 


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