"In sub-Saharan Africa, growth is expected to decline to 3.3 percent in 2023 before increasing to 4 percent in 2024, with downward revisions of 0.2 points and 0.1 points respectively for 2023 and 2024, with growth remaining below the historical average of 4.8 percent", says the IMF in the report on the World Economic Perspectives, released this Tuesday in Marrakesh, where the annual meetings of the IMF and the World Bank are taking place.
"The projected slowdown reflects, in many cases, the degradation of climate shocks, the global slowdown and problems in domestic supply, including, mainly, in the electricity sector", reads the report, which presents only some macroeconomic data on the countries Africans, leaving the analysis until the end of this Tuesday afternoon, when specific documents about the region begin to be released.
Even so, in this 'World Economic Outlook', the IMF already presents data on macroeconomic growth and inflation, among others, for all Portuguese-speaking African Countries (PALOP) and warns of the increase in over-indebtedness in sub-Saharan Africa.
The Fund warns that "debt costs for emerging markets and developing economies remain high, limiting priority spending and increasing the risk of debt distress."
In the report, the IMF says that the percentage of countries that pay more than 10 percent to borrow on the international financial market was 24 percent in August, much higher than the 9.3 percent of countries that, in August 2021, paid more than 10 percent interest per year.
"For sub-Saharan Africa, interest still exceeds 680 basis points [6.8 percent of the total loan] in more than half of cases, and the percentage for low-income countries (56 percent) and emerging markets ( 25 percent) at high risk or already in over-indebtedness this year remains high, as last year", warns in the report.
GDP growth forecast
COUNTRY..............2023............2024
ANGOLA..................1,3.................3,3
CAPE VERDE.............4,4................4,5
GUINEA-BISSAU........4.5................5.0
EQUATORIAL GUINEA...-6.2...........-5.5
SÃO TOMÉ AND PRÍNCIPE..0.5........2.4
MOZAMBIQUE................7.0...........5.0
SUB-SAHARAN AFRICA...3.3............4.0
Source: World Economic Outlook
Average inflation forecast for the year
COUNTRY..........................2023..........2024
ANGOLA.............................13.1............22.3
CAPE VERDE........................5,2..............2,0
GUINEA-BISSAU..................7.0..............3.0
EQUATORIAL GUINEA...........2,4..............4,0
SÃO TOMÉ AND PRÍNCIPE....20.8...........11.9
MOZAMBIQUE......................7.4............6.5
SUB-SAHARAN AFRICA........15.8..........13.1
Source: World Economic Outlook
