Sub Saharan Africa Economic Forecast

Economic Snapshot for Sub-Saharan Africa

April 29, 2022

GDP growth will ebb in 2022

Regional economic growth will ebb, but remain strong, this year. The commodity prices boom will bode well for investment in and public coffers of metal-exporting countries, although it will pose fiscal constraints and increase costs for others. Extreme weather events, lack of vaccine administration capacity and vaccine hesitancy, debt repayments and armed conflicts are risks.

Inflation to rise in 2022

Regional inflation rose to 13.5% in March (February: 13.1%), amid higher price pressures in South Africa and Uganda, where transport is a large share of the consumer price basket. Elevated prices for agricultural commodities and oil will exert upward pressure for food and energy, driving up inflation in the short term, which could hamper net food and fuel importers and worsen food insecurity.

 
 

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