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Growth in Africa to reach 3.4% in 2017 – OECD, AfDB

Growth forecast at 4.3% for 2018.

BERLIN – The Organisation for Economic Co-operation and Development (OECD) and the African Development Bank (AfDB) expect economic growth in Africa to pick up this year and next.

Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product (GDP) to expand by 3.4% this year after 2.2% in the previous year.

For 2018, OECD and AfDB expect the upturn to gain further momentum with a predicted expansion rate of 4.3%.

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