North African countries are projected to see a slight increase in economic growth to 4.6% in 2023 and 4.4% in 2024, and should make green growth an urgent priority, according to the latest North Africa Economic Outlook report published by the African Development Bank (AfDB). In the report titled “Mobilizing Private-Sector Financing for Climate and Green Growth in Africa”, the AfDB says that economic growth in the region is essentially driven by the service sector, particularly trade and tourism. The North African economies expanded moderately by 4.1% in 2022 compared with the growth of 5.4% in 2021, though there are significant disparities between countries in terms of the rate of growth. The AfDB also calls on North African countries to invest in agriculture, in particular by developing improved varieties alongside water and soil management strategies. The North Africa Economic Outlook report, published since 2003, is one of the AfDB Group’s flagship publications.

Source: The North Africa Journal July 31, 2023 10:02 UTC