IMF: South Sudan will be ‘2020 fastest growing economy’ in Africa
Last year, Africa had some of the world’s fastest-growing economies and 2020 won’t be very different.
A few of the countries on the top 10 list may have changed but the IMF, World Bank and other institutions all expect above global average GDP growth.
The top performers will be South Sudan (8.2%), Rwanda (8.1%) Côte d’Ivoire (7.3%), Ethiopia (7.2%), Senegal (6.8%), Benin (6.7%) and Uganda (6.2%) along with Kenya, Mozambique, Niger and Burkina Faso all expecting 6% growth.
While these countries help push up Africa’s overall average economic growth rate forecast to 3.8% (or 3.6% for Sub Saharan Africa), these averages are weighed down closer to the global average (3.4%) by the two largest economies, Nigeria (2.5%) and South Africa (1.1%).