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Economy

World Bank sees sub-Saharan Africa growing by 3.4 percent this year

The World Bank expects sub-Saharan African economies to grow by up to 3.4 percent this year, after contracting by 2 percent, with Angola growing 0.9 percent this year and 3.5 percent in 2022.

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According to the Pulsar Africa report, released in Washington, economies in this region contracted 2 percent last year, "close to the lower limit of the forecast made in April 2020, and the prospects for recovery are strengthening- due to measures to contain the new waves of the pandemic and increase the speed of distribution of vaccines ".

The document does not present the growth forecast for all economies, showing only the regional average, although it reveals individual data for the largest economies in the region, such as Angola, which is expected to grow 0.9 percent this year and 3.5 percent in 2022.

With the title 'The Future of Work in Africa: Emerging Trends in Adapting to Digital Technology', the report produced by the chief economist's office stresses that "economic recovery depends on deepening reforms that create jobs, encourage investment and improve competitiveness ".

On the other hand, "the resurgence of the pandemic at the end of 2020 and the limited space for budget support will pose challenges for policy makers".

For the World Bank's chief economist for Africa, Albert G. Zeufack, "African countries made tremendous investments last year to keep their economies afloat and protect the lives and incomes of their people."

However, he says that "ambitious reforms that support job creation, strengthen equitable growth, protect the vulnerable and contribute to African continent".

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