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The war in Ukraine weighs on African growth

2022-05-27T15:49:17.033Z


The African Development Bank warns of the risk of stagflation on the continent. Africa is not immune to the great uncertainty weighing on the world economy. The main risk comes from the war in Ukraine, which has many collateral effects for the continent. The Covid pandemic also remains a threat due to the very low vaccination rate of African populations and the possible resurgence of the virus, as is the case in South Africa affected by new sub-variants of Omicron. “The conti


Africa is not immune to the great uncertainty weighing on the world economy.

The main risk comes from the war in Ukraine, which has many collateral effects for the continent.

The Covid pandemic also remains a threat due to the very low vaccination rate of African populations and the possible resurgence of the virus, as is the case in South Africa affected by new sub-variants of Omicron.

“The continent could plunge into stagflation, a combination of slow growth and inflation

,” warns Akinwumi Adesina, president of the African Development Bank (AfDB), who has just published his new economic forecasts.

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Africa: the World Bank forecasts a slowdown in growth in 2022

After the post-pandemic recovery of 7% recorded in 2021, African GDP is expected to grow by 4.1% this year with inflation, already on the rise last year, which will accelerate to 13.5%, under the pressure of commodity prices. raw materials, energy and foodstuffs.

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Source: lefigaro

All news articles on 2022-05-27

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