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AfDB: African economies to grow in 2015-2016

by ChemOrbis Editorial Team -
  • 26/05/2015 (13:56)
According to media sources, the African Development Bank (AfDB) expects African economies to grow 4.5% in 2015 and 5% in 2016 due to rising demand for African exports. These figures represent the highest levels of predicted growth since the global economic crisis of 2007-2008.

According to the bank, the region’s financial incomes are likely to increase almost 7% to $193 billion on the back of an increased number of foreign investments as well as a spike in portfolio investments.

The AfDB estimates African economies to have grown by 3.9 percent in 2014. Prior to the economic crisis, African economic growth averaged between 5-7 percent.
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