Monetary Fund (IMF) recent report on the economic outlook of Sub-Saharan Africa
indicates that the region’s economic recovery continues with growth set to pick
up from 3 percent in 2018 to 3.5 percent in 2019.
The report indicated that these region wide numbers mask considerable differences in the growth performance and prospects of countries across the region. “About half of the region’s countries, mostly non-resource-intensive countries are expected to grow at 5 percent or more, which would see per capita incomes rise faster than the rest of the world on average over the medium term.”
It added that for all other countries, mostly resource-intensive countries, improvements in living standards will be slower.
Notwithstanding these different economic prospects and policy priorities, countries share the challenge of strengthening resilience and creating higher, more inclusive and durable growth.
IMF said addressing these challenges require building fiscal space and enhancing resilience to shocks by stepping up actions to mobilize revenues, alongside policies to boost productivity and private investment.