The World Bank estimates that the global economy is expected to grow by 4 percent in 2021. In Sub-Saharan Africa, the economy is expected to rebound by moderately to 2.7 percent in 2021, after contracting by an estimated 3.7 percent in 2020. While economic activity in North Africa is is on course to rise by 2.1%In October, the World Bank projected the economy in the eastern and southern Africa region to grow by 2.7%. The pandemic could stifle global economic growth over the next ten years and could even cause a ‘lost decade’ if the economy is mismanaged, the World Bank said. According to World Bank Group President David Malpass, the global economy appears to be emerging from one of its deepest recessions and beginning a subdued recovery but policymakers face formidable challenges-in public health, debt management, budget policies, central banking and structural reforms-as they try to ensure that this still-fragile global recovery gains traction.

Source: The North Africa Journal January 07, 2021 08:26 UTC