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The projected sharp decline in 2023 largely reflects continued growth weakness in SA, the region’s largest economy and trading partner
24 May 2023 – 14:46
SA will once again drag down regional growth as the country continues to grapple with the impact of high interest rates and persistent power outages, an African economic report shows.
The African Development Bank (AfDB) released its 2023 Africa Economic Outlook report at its annual meeting in Sharm El-Sheikh, Egypt, on Wednesday. The flagship report showed while growth in Africa is projected to stabilise at 4.1% in 2023—24, higher than the estimated 3.8% in 2022, growth in Southern Africa is projected to decelerate by 1.1 percentage points, from an estimated 2.7% in 2022 to 1.6% in 2023. ..
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