The World Bank published this Wednesday, April 31, 2021 the new edition of Africa's Pulse. The semi-annual report, Africa's Pulse identifies job creation, investment and competitiveness as the 3 priority areas for action to ensure the economic recovery of sub-Saharan Africa.
 
At the heart of the recession, sub-Saharan Africa sees economic recovery. The zone's economic growth is expected to contract by 2% in 2020, within the most optimistic range of the April 2020 forecast. Titled ''COVID-19: The future of work in Africa and the new digital landscape'' , the Africa's Pulse report notes that many economies in Africa have been able to weather the turmoil caused by the COVID-19 pandemic thanks to a combination of several factors.
The document stresses that economic recovery will depend on the extent of reforms undertaken by countries to support job creation, encourage investment and increase competitiveness. The resurgence of the pandemic at the end of 2020 and limited additional budget support will force policymakers to fight an uphill battle to continue consolidating growth and improving people's livelihoods. Stepping up reforms
The report places particular emphasis on reforms to address digital infrastructure gaps and improve the inclusiveness of the digital economy. Implementing these reforms is key to improving connectivity, accelerating the adoption of digital technologies, and creating more and better jobs for men and women in the world. continent.
World Bank Chief Economist for Africa Albert G. Zeufack says African countries have made huge investments to keep their economies afloat and safeguard the lives and livelihoods of their people. “To scale up these efforts and pave the way for a stronger recovery across the continent, they must implement ambitious reforms that will support job creation, encourage inclusive growth, protect vulnerable people and preserve the environment,” he said.
World Bank experts believe that African countries can accelerate their recovery by stepping up current short-term support measures for the economy and people, especially women, youth and other vulnerable groups. These policies must go hand in hand with reforms encouraging an increase in the inclusive productivity and competitiveness of countries. According to the report, easing the debt burden will free up public resources to invest in education, health and infrastructure in particular.
Investments in human capital will help mitigate the risk of lasting damage from the pandemic, most of which will manifest in the longer term, while boosting competitiveness and productivity. The next twelve months will be decisive in enabling the African Continental Free Trade Area to fully play its role in accelerating the integration of African countries into regional and global value chains.
Furthermore, real GDP growth for 2022 is estimated at 3.1%. Growth forecasts for the region call for an increase of between 2.3 and 3.4% in 2021, depending on the policies adopted by the countries and the international community.