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Find all the economic and financial information on our Orishas Direct application to download on Play StoreFaced with the coronavirus crisis, African countries have put in place various measures in order to effectively respond to the threat of the pandemic. In 2020, sub-Saharan Africa is estimated to have experienced an economic contraction of around 2%. Sub-Saharan Africa is expected to experience economic growth of between 2.3 and 3.4% this year, according to the World Bank in a press release on Wednesday, March 31, 2021.
The economic recovery in the region is expected to take place despite the general recession estimated at 2%, recorded in 2020. It is due to the effects of Covid-19 on the various sectors of activity. Faced with the spread of the virus, countries have in fact been forced to take restrictive measures; this has slowed down the activity of the various sectors, but also trade and consumption.
The World Bank indicates in its report entitled “The Future of Work in Africa: Emerging Trends in Digital Technology Adoption” that economic recovery in sub-Saharan Africa will be driven by economic factors, but also health factors. These include the resumption of activities in the agricultural sector, and the efforts made by governments to control the spread of the coronavirus. Indeed, while Kenya, Côte d'Ivoire, Botswana and Guinea, for example, are expected to recover strongly, other countries will have lower growth. This is explained by the fact that the first countries will benefit from the expected rebound in private consumption and investment
Specifically, the institution indicates that economic growth in Eastern and Southern Africa is expected to reach 2.6% in 2021, and 4.0% in 2022, after a global recession of 3% in 2020, mainly due to South Africa and Angola. For the West and Central Africa subregion, the Bank forecasts growth of 2.1% in 2021 and 3.0% in 2022, after a recession of 1.1%. For an optimal recovery of the economy, the institution indicates the importance of implementing “ambitious reforms that support job creation, strengthen equitable growth, protect vulnerable people and contribute to sustainability. environmental. They will be essential to support efforts towards a stronger recovery across the African continent in the future.” This also involves policies to improve productivity and a search for the competitiveness of economic sectors.
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