Africa’s economic growth is catching up with population growth

Africa’s economic growth, excluding Libya, is expected to stand at 2.6 per cent in 2017. That represents an increase of one per cent over last year and is higher than the rate of population growth on the continent, estimated at 2.5 per cent. A combination of external and internal factors has contributed to the uptick. Externally, a slight pick-up of commodity prices have played a role in speeding up the continent’s growth. Domestically, growing private consumption, increased investment and strong government expenditure improved the conditions for growth.

Read more in the October Monthly Briefing on the World Economic Situation and Prospects.