NAIROBI (Xinhua) --
The International Monetary Fund (IMF) forecast
Tuesday that economic growth in Sub-Saharan Africa will reach
2.6 percent in 2017, well below its global growth forecast of
The outlook for the
region remains subdued as output growth is expected only
moderately to exceed population growth over the forecast
horizon, the IMF said in its latest World Economic Outlook
However, the IMF has
termed the growth forecast this year as a modest recovery, after
economic growth in the region only grew 1.4 percent last year.
The IMF has forecast
a modest 0.8-percent growth for the region’s largest economy
South Africa this year as commodity prices rebound, drought
conditions ease, and electricity capacity expands.
Meanwhile, output in
Nigeria is also projected to grow 0.8 percent in 2017 as a
result of a recovery in oil production, continued growth in
agriculture, and higher public investment, according to the
report. The country’s economy contracted by 1.5 percent in 2016.
The IMF warned
geopolitical risks and a range of other non-economic factors
such as civil war and domestic conflict in parts of the Middle
East and Africa, the protracted effects of a drought in eastern
and southern Africa, may deepen the hardship in directly
affected countries if these factors intensify.