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.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335