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Africa's growth: GDP per capita will exceed its pre-Covid crisis level in 2023

24/01/2023
Source : ORISHAS FINANCE
Categories: Rate

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The growth of the African continent has been maintained during the health crisis. To secure their future growth, African countries will have to choose to diversify their countries so as économie to no longer depend solely on raw materials or tourism.

The African Development Bank (BAD) announced in its first annual report on Africa's growth prospects, published last week, that “African economies should rethink their development models by taking advantage of the opportunities offered by the private sector.” Indeed, in its first year of its kind, the Bank estimated that the continent's average real gross domestic product (GDP) growth slowed last year to 3.8%, compared with 4.8% in 2021. Growth that should only stabilize at 4% for the next two years.

Thus, GDP per capita, in 2023, will exceed its level before the Covid crisis. Thomas Melonio, Director of Research l'Agence française de développement (AFD), for his part, announced that “GDP per capita, in 2023, will exceed its pre-crisis level of Covid. Africa was less affected by the pandemic crisis where there were few lockdowns, allowing it to rebound more quickly than expected.”

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