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The African Development Bank (AfDB) has revised its macroeconomic forecast for Africa, citing inflationary pressures and challenges such as Covid-19, geopolitical tensions, climate shocks, and limited fiscal space. Inflation is projected to average 18.5% and 17.1% in 2023 and 2024, respectively. The bank recommends implementing restrictive monetary and fiscal policies to contain inflation in the short term, while also investing in human capital and infrastructure for long-term sustainable development. The AfDB has introduced a $1 billion insurance facility to protect farmers from climate change impacts and received pledges of over $175 million for climate-aligned infrastructure projects. The Africa Investment Forum generated significant investment interest, and Germany has pledged €4 billion for Africa's green energy. The AfDB is prioritizing private sector development and has approved a Country Strategy Paper for Malawi, focusing on economic infrastructure and agriculture value chains. The Bank has also granted loans to several countries to support economic recovery and development programs. [Extracted from the article]

The article provides an outlook for economic condition of Tanzania. It forecasts that the economy will recover in 2010. It relates that economic experts expect a real gross domestic product (GDP) growth of 5.7% in the country in 2010, compared with 5.0% last year. Moreover, the Treasury attempts to drive down the annual inflation rate to 6.0% by June 2010.

The article discusses issues on the economic, financial and technical issues on Africa as of November 15, 2014. Topics include the mid-term budget statement of South Africa with slashed economic growth forecast due to insufficient revenue to cover spending, the 14th African Economic Conference (AEX) held in Ethiopia from November 1 to 3, 2014 which focused on research and innovation for the transformation of Africa, and regulatory reforms in Sub-Saharan Africa according to World Bank Group.

The article offers the economic outlook for Cameroon. The country's growth rate, according to the seventh issue of the "Cameroon Economic Update." could stand at roughly 4.6% in 2013 due to the boost received from industrial agriculture. The private sector is also said to be the driving force behind strong growth and job creation.

The article provides an outlook for the economic condition of Rwanda. It expects that the economy of the country will grow by 7% to 8%, up from 5.5% in 2009. According to Minister of Finance and Economic Planning John Rwangombwa, the agricultural sector was the key factor of economic growth, having registered a 10.4% growth in 2009. Moreover, financial experts from the agency anticipate that private sector will increase by at least 20%, therefore, boosting the economic activity.

The article focuses on copper demands, as well as, how Zambian economy would not be affected by the projected world recession. According to the Johannesburg-based paper the "Financial Mail", copper reached its record high demand on March 6, 2008. On the other hand, the Zambian economy is expected not to be affected by the world recession partly due to its increased copper exports. In addition, says National Secretary of the Economics Association of Zambia Chibamba Kanyama, rising returns and focus on global capital on the African continent are among the reasons for Zambia's strong economic performance against the recession.

Yet, the outlook remains highly uncertain as the recovery depends on the progress in the fight against Covid-19 and is vulnerable to disruptions in global activity and financial markets, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook for Sub-Saharan Africa. I (imf.org 21/10) i Reviews and Assessments B Burundi, Addressing Covid-19 Impact: b The Executive Board of the International Monetary Fund (IMF) approved a disbursement of about US$76.2m under the Rapid Credit Facility (RCF). At the end of the mission, Aisen said: "The Nigerien authorities and the IMF team reached a staff-level agreement on economic and structural policies and reforms that would underpin a new three-year arrangement under the ECF with access to about US$ 278.5m. I (imf.org 26/10) i B Niger, New Arrangement: b An IMF staff team led by Ari Aisen held virtual meetings from October 25th to November 1st to conclude discussions on IMF financial support via an Extended Credit Facility (ECF) in support of the authorities' economic reform programme. [Extracted from the article]

The reduction in the civil service wage bill remains a government priority, while debt service costs on the other hand will continue to escalate, with debt service costs rising to R365.8bn in 2024/25 from R162.6bn in 2017/18. Gross government debt is therefore expected to peak at 78.1% of GDP in 2025/26 and decline thereafter, which should allow debt-service costs to fall below 22% of main budget revenue by 2026/27. In the 2021 MTBPS the revised growth for revenue in fiscal year 2021/22 is now 18.9%, while the 2020/21 revenue contraction has been revised to 7.8%. [Extracted from the article]

This section offers economic-related news briefs in Africa as of September 1, 2015. Zimbabwe Finance Minister Patrick Chinamasa has cut the country's 2015 growth forecast from 3.2% to 1.5% due to drought-related slump in farm produce. A special budget of 44 million U.S. dollars was approved by Botswana on July 29, 2015 to support livestock farmers affected by drought. Burundi's economy has suffered following the suspension of foreign aid amidst the political crisis over the past 3 months.

The article discusses the mid-term budget statement of South Africa, with slashed economic growth forecast due to insufficient revenue to cover spending. South Africa's Finance Minister Nhlanhla Nene says that the downward revision of the growth forecast is partly due to weak global economic environment that include the slowdown in Europe, China and other emerging countries, as well as reflect the challenges facing the region's economic development, energy constraints, and labour market.

The article presents a 2014 economic outlook for Zimbabwe as of September 2013. The World Bank notes that the country is struggling with international and local factors that are impeding its growth potential. Growth projection for 2013 was revised from 4 to 3 percent. World Bank officials say that worsening macroeconomic indicators and heightened banking volatility are adding to economic uncertainty in the country.

The article presents an outlook for Kenya's economic growth in 2012. According to the World Bank, economic growth is affected by several factors such as high food and fuel prices. Economic growth is predicted to reach 5.5 percent in 2012. The need for the country diversify its exports away from flowers and tea is also cited.

The article highlights the recent economic policy and practice of Nigeria. The Nigerian government has developed a master plan to reposition the economy in the top 20 in the world by 2020, dubbed as Financial System Strategy (FSS 2020). Economic experts opine that for Nigeria to achieve its dream as contained in its FSS 2020, the idea must be institutionalized and all citizens buy into it. Economist Biodun Adedipe notes that it must be institutionalized by putting in place appropriate implementation structures and necessary resources made available for its implementation. Information about the state's human resources is also keyed out.

The article discusses banking and finance reports from the International Monetary Fund (IMF) for Africa as of January 1, 2017 including the economic growth and diversification in Angola, the economic forecast for Cabo Verde, and the resilience and growth-related risks for Morocco.

The article offers information related to economic recovery projections for 2017 in Africa including economic conditions of African countries and insights from Nigerian economist Nonso Obikili and managing director Martyn Davies.

The article reports that gold prices could reach unprecedented levels in 2012 based on data published in mid-January 2012. It says that prices may possibly reach 2,000 U.S. dollars per ounce. According to the updated yearly Thomson Reuters GFMS Gold Survey, gold prices may remain stable in the next six months as Eurozone concerns moderate investment. The Gold Long-Term Outlook report released by CPM group is also discussed.

The article forecasts that the economy of Côte D'Ivoire will recover strongly in 2012 due to support from France and the performance of competent managers.

This article looks at the growth of the economy of Botswana in the second quarter of 2011. A report attributed the growth to increased activities in the mining and construction industries. It also cited a surge in diamond prices and the government's infrastructure projects. The government expects the economy to continue to grow in 2012.

The article reports on the fiscal plans of east African countries such as Kenya, Rwanda and Uganda to overcome the economic recession. It cites that the countries raised spending with budgets of 11.4,1.48 and 3.3 billion dollars, respectivley. Meanwhile, the three countries were careful to avoid weighty tax measures to allow growth space for their economy despite the expectation to suffer slower growth in 2009.

The article reports on the impact of the global financial crisis in 2009. World Bank claimed that developing countries could face a financing gap of $270 billion to $700 billion in 2009. International Monetary Fund said that poor countries needed $25 billion in low-cost finance to endure the global financial crisis. As unemployment increases and more migrant workers lose jobs in Europe and the U.S., incomes of poor families will be badly affected. Furthermore, remittances to developing countries including Africa, Easter Europe and Central Asia will decline.

The article reports on the economic condition of Central African Republic. After several years of conflict, the country has returned to economic growth, with a rate of 3.7% in 2006, compared to an annual average of 0.6% from 1998 to 2005. Its economic recovery process is anticipated to continue in 2007 and 2008 with the implementation of macroeconomic and structural reforms.

The article offers news briefs in Africa. International humanitarian organizations and the government of Cote d'Ivoire have requested donors for $56 million to aid around 4 million vulnerable people. The World Food Program will start distributing emergency assistance to people suffering from the effects of drought in Madagascar. The diamond production in Namibia is expected to drive the country's economic growth to 4% in 2007 and 4.5% in 2008.

The article reports that the real long-term flows of development aid to Sub-Saharan Africa has felled in 2005. The Organisation for Economic Co-operation and Development (OECD) has released on December 6, 2006 its updated estimates for development aid fir its 22 member countries. The overall aid in 2005 was also inflated by a write-off of debt owed by Iraq on which Saddam Hussein's government has defaulted.

The article reports on the forecasts that domestic debt doubles inflation of over 4000% in 2007 in Zimbabwe. The debt opened at $64 billion reaching $97 billion within 7 days before scaling to $127 billion on September 15, 2006. The increase debt level fears that inflation which critics blamed on government spending would accelerate to unprecedented levels in 2006. The International Monetary Fund (IMF) said that the country's inflation would average 1200% in 2006, and 4000% in 2007.

The article highlights analysts and business leaders' assessment of the economic conditions in Zimbabwe. Economists predict a short-term gain in convenience but inflation could end the year 2006 at 2,000 percent. Professor John Makumbe comments on the need to stop corruption and revive agricultural and industrial production.

The article reports on the expected improvement of the Liberian economy. The real gross domestic product have grown by 5.3% in 2005 from 2.6% in 2004. The recovery is largely driven by donor activities and reflected the gradual improvement of security in rural areas. The government of President Ellen Johnson-Sirleaf has implemented key steps to address problems in financial management and economic governance.

The article reports that Zimbabweans have been facing inflation in Zimbabwe. The new top denomination note is worth only about fifty U.S. cents. People are complaining about the new note. They claim that the new note is not the solution to their economic problems. The problem is going to get worse as inflation is expected to hit in March 2006.

Reports on an April 2005 article in "African Business" indicating that the short-term trend is encouraging for Africa's metal producers with higher industrial production being anticipated in most consuming countries. Surge in global demand for metal, especially from Asia's developing economies; Gains made by Africa's base metals sector in 2004; Factors that are expected to lead to increased metals production in the medium term.

The article reports that the Moroccan government had revised its growth forecast for 2012 to 4.2 percent on February 2, 2012, which is short of the target set by new Prime Minister Abdelilah Benkirane. It says that the plan aimed to keep inflation at around 2 percent while creating jobs to reduce unemployment to 8 percent. According to finance minister Nizar Baraka, the revised growth rate is the result of the slowdown among partner countries and the international economic situation.

The article reports on the highly vulnerable economic outlook for Zimbabwe for 2012. It says that the clouded outlook is caused by several key factors including political disturbances, banking system instability and commodity price declines. According to World Bank country economist Nadia Pifferetti, the external position of the country remains precarious with an account deficit of 23.4 percent of gross domestic product (GDP).

The May 16-June 15, 2010 issue of "Africa Research Bulletin," Economic, Financial and Technical Series, is presented. It offers information on the 45th Annual Meetings of African Development Bank (AfDB) and the 36th Meetings of African Development Fund (ADF) held in Abidjan, Cote d'Ivoire in May 28, 2010. An overview of the economic outlook for Africa in 2010 is also provided.

The article reports on the speculations concerning the ability of Nigeria to endure the global financial crisis in 2009. Ray Echebiri, an economist, envisioned very rough times ahead considering the depreciating naira, Nigeria's national currency. Professor Chukwuma Soludo, governor of Central Bank of Nigeria, projected a not so bad economic situation.

The article reports on the impact of the decline in export revenues on the economic growth in Swaziland. Estimates by the International Monetary Fund say gross domestic product growth will slow to about 1 percent against 1.8 percent in 2005. This has been brought by the strength of the national currency, the Ilangeni, which is pegged to the South African rand currency through the region's Common Monetary Area arrangement.

The article offers news briefs related to economics in Africa. The government of Angola has approved a pay increase for public service workers and an increase in the national minimum wage. Ethiopia is planning to increase its exports by 20-25 percent per year. The economy of Uganda is expected to grow by 4.9 percent in 2005-06.

The article reports that Finance Minister of South Africa Trevor Manuel stated that the economy will grow faster in 2005 than expected. Presenting the annual Medium Term Budget Policy Statement to parliament, Manuel raised the growth forecast from what is predicted in the budget in February 2005. The findings of a study suggest that jobs are being created at a faster rate than what is in the official employment figures and that the economy may be growing at the annual rate sought by government.