By Shamim Nateebwa
Africa’s growth stands to rebound to 3% in 2021.
This is according to the African Development Bank’s African Economic Outlook 2020 Supplement.
In a comprehensive socio-economic assessment of the Covid-19 pandemic’s impact, the Bank says growth is now projected to rebound to 3% in 2021 from 3.4% in the worst-case scenario for 2020.
The updated forecasts released this week show this growth could be achieved easily provided that governments manage the COVID-19 infection rate well.
Charles Leyeka Lufumpa, the Acting Chief Economist and Vice President for Economic Governance and Knowledge Management, now advises governments and development partners to respond in a more coordinated, targeted, and rapid manner to be effective in limiting the Covid-19 impact.
The African Development Bank has predicted that an additional 49 million Africans could be pushed into extreme poverty by the pandemic and its aftermath with West and Central Africa being the worst-hit.