https://www.engineeringnews.co.za

Load-shedding drags down sub-Saharan growth – report

9th July 2015

By: News24Wire

  

Font size: - +

Gross domestic product (GDP) growth rate in sub-Saharan Africa will average 4.2% in 2015, according to the latest World Bank report.

In its Global Economic Prospects report for June 2015, the World Bank made a 0.4% downward revision of the region's GDP growth rate.

The report attributed this to deteriorating prospects in Angola and Nigeria in the wake of the sharp oil price drop.

The ongoing difficulty in overcoming electricity shortages in South Africa was also given as a hindrance to growth in the region.

The World Bank added that risks to the outlook remain tilted to the downside.

"On the domestic front, risks associated with elections, the Boko Haram insurgency, the Ebola crisis, and fiscal vulnerabilities dominate," said the bank, adding that China’s slowdown and the fragility of the recovery in Europe remain as key external risks.

Growth in the region is, however, expected to pick up in 2016 to an average of 4.6% and to accelerate to 5.0% in 2017.

News24.com

To watch Creamer Media's latest video reports, click here
 

Edited by News24Wire

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.101 0.151s - 137pq - 2rq
Subscribe Now