SUB SAHARAN AFRICA – STRONG REGIONAL DYNAMICS
IMF’s latest Regional Economic Outlook for Sub-Saharan Africa (2015) projects that region is set to grow at 4.5% in 2015. While this rate will be at the lower end of the range experienced over the last few years, Sub-Saharan Africa will remain among the fastest growing regions of the world.
Though the region’s oil exporters have been hard hit by price decline, for the rest of the region, growth prospects remain favorable. These countries are enjoying the benefits of lower oil import bills, although some are also feeling the impact of lower prices for their non-oil commodity exports.
Growth is projected to be particularly strong in most low-income and the more fragile countries, and this will help to reduce poverty levels and increase consumption.