Sub-Saharan Africa Regional Economic Outlook: A Cautious Reopening
Sub-Saharan Africa, June 29, 2020
Source details
- Canonical URL
- Sub-Saharan Africa Regional Economic Outlook: A Cautious Reopening
Other formats
Bibliographic details
- Published: June 29, 2020
- Series: Sub-Saharan Africa
Overview
- The outlook for 2020 for sub-Saharan Africa is considerably worse than was anticipated in April and subject to much uncertainty.
- Economic weakness reflects a weaker external environment and measures to contain the COVID-19 outbreak.
- Africa’s authorities have acted swiftly to support the economy, but these efforts have been constrained by falling revenues and limited fiscal space.
- The region cannot tackle these challenges alone; a coordinated effort by all development partners will be key.
Growth projections and key statistics
- 2020: Economic activity is now projected to contract by some 3.2 percent.
- 2021: Growth is projected to recover to 3.4 percent in 2021, subject to the continued gradual easing of restrictions and if the region avoids the same epidemic dynamics that have played out elsewhere.
- Timing: Regional Economic Outlook for Sub-Saharan Africa, June 2020 Update (June 2020).
Risks and conditions for the outlook
- Substantial uncertainty surrounds the projections.
- The 2021 recovery projection depends on:
- Continued gradual easing of restrictions that has started in recent weeks.
- Avoiding epidemic dynamics similar to those experienced in other regions.
- Policy responses have been constrained by falling revenues and limited fiscal space.
Policy guidance and priorities
- Safeguard public health.
- Support people and businesses hardest hit by the crisis.
- Facilitate the recovery through appropriate regional policies.
- Emphasize the importance of coordinated support from development partners.
Sub-Saharan Africa Regional Economic Outlook: A Cautious Reopening, Regional Economic Outlook for Sub-Saharan Africa, June 2020 Update, June 2020.
Content in this bundle
- Sub-Saharan Africa Regional Economic Outlook Update, June 2020: A Cautious Reopening