Africa’s Pulse, No. 27, April 2023

World Bank
Authors registered in the RePEc Author Service: Megumi Kubota

No 39615, World Bank Publications - Reports from The World Bank Group

Abstract: Economic growth in Sub-Saharan Africa slowed to 3.6 percent in 2022, from 4.1 percent in 2021 but may be bottoming out. Weak investment growth and macroeconomic instability are weighing on economic activity. Inflation remains persistently high and above target despite early and sizable interest rate increase. Amid unfavorable global financial conditions and high levels of debt, African policymakers must bank on their domestic policy space to restore macroeconomic stability, deepen structural reforms to foster inclusive growth, and implement policies that harness the region's resource wealth during the low carbon transmission. This natural wealth holds significant untapped economic potential to address fiscal challenges and drive economic transformation. The low carbon transition is irreversible and will be intensive in the minerals required for the clean energy transition, many of which are abundant across Africa.

Keywords: Macroeconomics; and; Economic; Growth-Economic; Growth; Macroeconomics; and; Economic; Growth-Economic; Forecasting; Environment-Adaptation; to; Climate; Change (search for similar items in EconPapers)
Date: 2023
Note: ISBN 978-1-4648-1985-8 (electronic)
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