IMF cuts sub-Saharan Africa economic growth forecast to 5.25% in 2011.

By bne IntelliNews October 20, 2011
The economy of sub-Saharan Africa will grow by 5.25% in 2011, driven by strong domestic demand and elevated commodity prices, the IMF projects in its latest Regional Economic Outlook. In 2012, growth will accelerate to 5.75% as a result of one-off boosts to production in a number of countries. The institution expects lower economic growth compared to its April forecast in which 2011 growth was estimated at 5.5% and 2012 - at 6%. The current projection is contingent on 4% global economic growth and should the global demand decrease, the growth prospects for the region will deteriorate with South Africa and others that are more globally integrated likely to be affected the most.

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