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Africa set for growth with rising poverty, debt in 2021

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[Photo credit: Sia Kambou / AFP / Getty Images]
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Nation | by AFP


Abidjan

Africa’s economy should return to growth in aggregate across the continent in 2021 after a coronavirus recession, the African Development Bank said Friday, while warning that poverty and public debt would continue to rise.

The 2.1 per cent contraction of the pan-African economy in 2020 was the first recession in half a century, but should give way to expansion of 3.4 per cent this year, the AfDB said in the 2021 edition of its African Economic Outlook report.

At 3.1 per cent, the International Monetary Fund’s forecast was…

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[Photo credit: Sia Kambou / AFP / Getty Images]

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