00:00The African Development Bank has downgraded Africa's growth forecast for the next two years,
00:06amid what it described as unprecedented global circumstances
00:10and seismic shifts in the trade policies of major economies.
00:16Significant aid cuts will also hit low-income countries on the continent,
00:20Tuesday's African Economic Outlook report warned.
00:24Overall, the bank is projecting growth of 3.9% for 2025 and 4% for 2026,
00:32a downgrade of 0.2 and 0.4 points, respectively.
00:38Despite ongoing uncertainty, 21 African countries are still expected to see economic growth of more than 5% this year.
00:48Resilience the bank ascribes to effective domestic reforms, relative diversification,
00:54and improved macroeconomic management over the last decade.
Comments