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00:00 Marinin, this is how the African Bank named the numbers for the growth in the African continent.
00:10 But what are the details of these numbers?
00:14 Of course, the African economy in general in 2022 was 14.1%,
00:22 but in 2023 we see that this growth has declined to 23%.
00:30 Despite these declines, there are still large and wide investment opportunities in the African continent,
00:38 which is what still drives many international economies to invest in the continent.
00:44 This indicates that 15 African countries recorded a growth of 5% in their economy in 2023,
00:56 despite the pressures of inflation, which was in a good way this year.
01:02 We are talking about the average inflation in the African continent was 17.18%,
01:09 which is 13.6% higher than in 2022.
01:16 But what are the reasons for the decline in growth to 23%?
01:22 The first reason is the continuation of geopolitical tensions and some wars in different areas of the African continent.
01:31 The second reason is the economic slowdown in China.
01:39 The third reason is the continuation of the Russian-Ukrainian war.
01:47 But what are the expectations of the African economy in 2024?
01:53 The African economy is expected to grow rapidly in all areas, except Central Africa,
02:01 which is suffering from civil wars and political conflicts.
02:06 The growth of the African economy in the South African continent is expected to be 5.17%,
02:12 while the growth of the economy in the South African continent is expected to be 22%.
02:19 The African Bank said it expects to include 11 countries in the African continent
02:25 out of the total of the 20 economies that will grow fastest in 2024.