{
  "title": "Regional Economic Outlook: Sub-Saharan Africa",
  "publication": "Sub-Saharan Africa, May 9, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/reo/ssa/issues/2017/05/03/sreo0517",
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  "summary": "Growth momentum in sub-Saharan Africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium. 2016 was a difficult year for many countries, with regional growth dipping to 1.4 percent—the lowest level of growth in more than two decades.",
  "sections": [
    {
      "heading": "Overview and recent performance",
      "content": "- Growth momentum in sub-Saharan Africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium.\n- 2016 was a difficult year for many countries, with regional growth dipping to 1.4 percent—the lowest level of growth in more than two decades.\n- Most oil exporters were in recession, and conditions in other resource-intensive countries remained difficult.\n- Other nonresource-intensive countries however, continued to grow robustly.\n- The deterioration in the overall outlook partly reflects insufficient policy adjustment."
    },
    {
      "heading": "Growth outlook and drivers (short-term)",
      "content": "- A modest recovery in growth of about 2.6 percent is expected in 2017, but this falls short of past trends and is too low to put sub-Saharan Africa back on a path of rising living standards.\n- The modest rebound in 2017 will be to a large extent driven by one-off factors in the three largest countries:\n  - a recovery in oil production in Nigeria,\n  - higher public spending ahead of the elections in Angola,\n  - the fading of drought effects in South Africa,\n  - combined in all three countries with modest improvements in the terms of trade.\n- At this rate, growth for the region as a whole will continue to fall well short of past trends and barely deliver any per capita gains."
    },
    {
      "heading": "Cross-country heterogeneity and scope of slowdown",
      "content": "- About two-thirds of the countries in the region, together accounting for 83 percent of the region’s GDP, slowed down in 2016—although some countries still continued to expand strongly.\n- After nearly two decades of strong growth, average economic activity in sub-Saharan Africa has decelerated sharply, against the backdrop of lower commodity prices, a less-supportive global environment, and, in the hardest-hit countries, a delayed policy response."
    },
    {
      "heading": "Policy implications and priorities",
      "content": "- Strong and sound domestic policy measures are needed to restart the growth engine.\n- Two related policy questions highlighted:\n  - How can growth be revived in the hardest-hit countries?\n  - For countries that are still growing fast, how can growth be sustained?"
    },
    {
      "heading": "The informal economy: size, implications, and challenges",
      "content": "- The informal economy is a key component of most economies in sub-Saharan Africa:\n  - contributing between 25 and 65 percent of GDP,\n  - accounting for between 30 and 90 percent of total nonagricultural employment.\n- While international experience indicates that the share of the informal economy declines as the level of development increases, most economies in sub-Saharan Africa are likely to have large informal sectors for many years to come, presenting both opportunities and challenges for policymakers.\n\nInternational Monetary Fund — Regional Economic Outlook: Sub-Saharan Africa (canonical URL provided).\n\n---\n\n Content in this bundle\n\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n- Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- Angola and the IMF\n- Nigeria and the IMF\n- South Africa and the IMF\n- Press Release\n- Country Focus\n- Podcast\n- Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.\n- Modify your profile\n- https://www.imf.org/en/publications/weo\n- Global Economy in Crosscurrents of War and Technology\n- https://www.imf.org/en/publications/gfsr\n- Global Financial Markets Confront the War in the Middle East and Amplification Risks\n- https://www.imf.org/en/publications/fm\n- Fiscal Policy under Pressure: High Debt, Rising Risks\n- https://www.imf.org/en/publications/reo\n- Asia and Pacific\n- Europe\n- Middle East and Central Asia\n- Sub-Saharan Africa\n- Western Hemisphere\n- https://www.imf.org/en/publications/areb\n- Getting to Growth in an Age of Uncertainty\n- https://www.imf.org/en/publications/finance-development\n- More Publications\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/publications/reo/ssa/issues/2017/05/03/sreo0517"
    }
  ],
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    "[Markdown version](/en/publications/reo/ssa/issues/2017/05/03/sreo0517/index.md)",
    "[Structured JSON version](/en/publications/reo/ssa/issues/2017/05/03/sreo0517/index.json)",
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    "Published: May 9, 2017",
    "Series: Sub-Saharan Africa",
    "Growth momentum in sub-Saharan Africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium.",
    "2016 was a difficult year for many countries, with regional growth dipping to 1.4 percent—the lowest level of growth in more than two decades.",
    "Most oil exporters were in recession, and conditions in other resource-intensive countries remained difficult.",
    "Other nonresource-intensive countries however, continued to grow robustly.",
    "The deterioration in the overall outlook partly reflects insufficient policy adjustment.",
    "A modest recovery in growth of about 2.6 percent is expected in 2017, but this falls short of past trends and is too low to put sub-Saharan Africa back on a path of rising living standards.",
    "The modest rebound in 2017 will be to a large extent driven by one-off factors in the three largest countries:",
    "At this rate, growth for the region as a whole will continue to fall well short of past trends and barely deliver any per capita gains.",
    "About two-thirds of the countries in the region, together accounting for 83 percent of the region’s GDP, slowed down in 2016—although some countries still continued to expand strongly.",
    "After nearly two decades of strong growth, average economic activity in sub-Saharan Africa has decelerated sharply, against the backdrop of lower commodity prices, a less-supportive global environment, and, in the hardest-hit countries, a delayed policy response.",
    "Strong and sound domestic policy measures are needed to restart the growth engine.",
    "Two related policy questions highlighted:",
    "The informal economy is a key component of most economies in sub-Saharan Africa:",
    "While international experience indicates that the share of the informal economy declines as the level of development increases, most economies in sub-Saharan Africa are likely to have large informal sectors for many years to come, presenting both opportunities and challenges for policymakers.",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "**Regional Economic Outlook: Sub-Saharan Africa Restarting the Growth Engine**",
    "[Angola and the IMF](http://www.imf.org/external/country/AGO/index.htm)",
    "[Nigeria and the IMF](http://www.imf.org/external/country/NGA/index.htm)",
    "[South Africa and the IMF](http://www.imf.org/external/country/ZAF/index.htm)",
    "[Press Release](https://www.imf.org/en/news/articles/2017/05/09/pr17152-imf-calls-for-strong-sound-policy-measures-to-restart-sub-saharan-africa-growth-engine)",
    "[Country Focus](https://www.imf.org/en/news/articles/2017/05/05/na050917-sub-saharan-africa-restarting-the-growth-engine)",
    "[Podcast](http://www.imf.org/external/pubs/ft/survey/so/SinglePodcastHighlight.aspx?podcastid=446)",
    "[Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.](https://www.imf.org/en/email-subscription/index)",
    "[Modify your profile](https://www.imf.org/en/email-subscription/login)",
    "[https://www.imf.org/en/publications/weo](https://www.imf.org/en/publications/weo)",
    "[Global Economy in Crosscurrents of War and Technology](https://www.imf.org/en/publications/weo/issues/2026/07/08/world-economic-outlook-update-july-2026)",
    "[https://www.imf.org/en/publications/gfsr](https://www.imf.org/en/publications/gfsr)",
    "[Global Financial Markets Confront the War in the Middle East and Amplification Risks](https://www.imf.org/en/publications/gfsr/issues/2026/04/14/global-financial-stability-report-april-2026)",
    "[https://www.imf.org/en/publications/fm](https://www.imf.org/en/publications/fm)",
    "[Fiscal Policy under Pressure: High Debt, Rising Risks](https://www.imf.org/en/publications/fm/issues/2026/04/15/fiscal-monitor-april-2026)",
    "[https://www.imf.org/en/publications/reo](https://www.imf.org/en/publications/reo)",
    "[Asia and Pacific](https://www.imf.org/en/publications/reo/apac)",
    "[Europe](https://www.imf.org/en/publications/reo/eu)",
    "[Middle East and Central Asia](https://www.imf.org/en/publications/reo/meca)",
    "[Sub-Saharan Africa](https://www.imf.org/en/publications/reo/ssa)",
    "[Western Hemisphere](https://www.imf.org/en/publications/reo/wh)",
    "[https://www.imf.org/en/publications/areb](https://www.imf.org/en/publications/areb)",
    "[Getting to Growth in an Age of Uncertainty](https://www.imf.org/en/publications/areb/issues/2025/09/24/annual-report-2025)",
    "[https://www.imf.org/en/publications/finance-development](https://www.imf.org/en/publications/finance-development)",
    "[More Publications](https://www.imf.org/en/publications)"
  ],
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