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Africa: Real GDP to grow by 3.4% in 2021, outlook subject to elevated uncertainties
LAGOS (Capital Markets in Africa) – The African Development Bank Group (AfDB) projected Africa’s real GDP to grow by 3.4% in 2021, after contracting by 2.1% in2020 due to the fallout from the coronavirus pandemic. It attributed the region’s economic recovery to the easing of pandemic related restrictions, the anticipated resumption of tourism activity, and the increase in commodity prices. It noted that the economic impact of the pandemic varies across economic groupings and sub-regions,…
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