Economic Outlook for Africa 2020

The African Development Bank has published the 2020 edition of its African Economic Outlook (AEO) report. Bank's economic experts have been workinmg on this report and it serves as a tool for policymakers, academics, investors, as well as, development and financial industry professionals. Africa’s economic growth stabilised at 3.4 percent in 2019 and is expected to pick up to 3.9 percent in 2020 and 4.1 percent in 2021 but to remain below historical highs.

Growth fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. For the first time in a decade, investment accounted for more than half the continent’s growth, with private consumption accounting for less than one third.

The 2020 Outlook highlights, however, that growth has been less than inclusive. Only a third of African countries achieved inclusive growth, reducing both poverty and inequality.

In its last part, the report provides short-to-medium term forecasts on the evolution of key macroeconomic indicators for all 54 regional member countries, as well as analysis on the state of socio-economic challenges and progress made in each country. This adds granularity to the more aggregated analysis conducted in the first part of the report.

Transport infrastructure obviously plays a significant role in the development of the African continent and is featured in the report.