Regional GDP is set to shrink severely this year as Covid-19 induced lockdowns batter household and capital spending, while muted oil prices and disrupted supply chains hammer exports. Moreover, weak fiscal metrics and debt vulnerabilities pose further risks. Our panel of leading economic forecasters see regional GDP contracting 3.1% in 2020. In 2021, the regional economy is seen rebounding as the global economy recovers from the pandemic.
For more on the economic outlook for Sub-Saharan Africa and its key economies, download a sample of our monthly Consensus Forecast report.