in Short
Report : World Bank lowers growth forecast for Sub-Saharan Africa to 3%
The World Bank has reduced its economic growth forecast for Sub-Saharan Africa in 2024 to 3%, down from 3.4%, due to the devastating effects of the civil war in Sudan. Despite this decline, growth remains above last year’s 2.4%, thanks to increased private consumption and investment. However, armed conflicts, climate change, and high debt service costs pose serious threats. The institution emphasizes the urgent need for education reform and support for entrepreneurship to achieve inclusive growth.
