Africa Economy

Higher levels of energy production, supported by rising prices, underpinned a recovery in Nigeria’s economy in 2017, with further gains expected this year.

Rising industrial and energy output, along with steady declines in inflation and debt levels, combined to support accelerated growth in Ghana in 2017, and continued fiscal reforms point to a positive outlook for 2018.

A slowdown in agricultural activity, tighter credit conditions and political uncertainty have contributed to a mixed year for Kenya, with the country scaling down internal growth forecasts.

Improved performance in Egypt’s key sectors, tighter fiscal management and increased capital inflows drove an economic rebound last year, with growth expected to accelerate further in 2018.

A strong mid-year performance helped lift South Africa’s economy out of recession and back into positive territory in 2017. However, factors such as high unemployment and an expanding deficit could rein in growth in 2018.

La solidité de l’économie algérienne s’est renforcée en 2017 grâce à la hausse des recettes issues du secteur énergétique, aux mesures de contingentement des importations et à l’augmentation des recettes fiscales. Néanmoins, la dépendance continue du pays aux recettes issues de la vente d’hydrocarbures le laisse exposé aux chocs extérieurs.