Mpho TebeleGaborone – Africa is poised to recover from its worst recession in five decades, the African Development Bank (AfDB) says. GDP per capita is estimated to have contracted by 10 percent in nominal terms in 2020. It says the better-than-anticipated growth reflected the second and third-quarter GDP performance in advanced and emerging-market economies, especially China, after lockdown measures were scaled back and prospects brightened for COVID–19 vaccines and therapeutics. The AfDB says healthcare systems have improved in many countries, thanks to increased investments and social protection schemes. GDP in West Africa is estimated to have contracted by 1.5 percent in 2020, better than the initial projection of a 4.3 percent decline.

Source: The North Africa Journal April 03, 2021 08:35 UTC