AfDB: Africa’s real GDP to grow 4.1% in 2023

Africa’s average real GDP growth is projected at 4.1 percent in 2023 from 3.8 percent in 2022, said African Development Bank’s (AfDB) vice president for economic governance Kevin Chika Urama Chief on Wednesday.

“This will be stronger than the global average of 2.9% and the Europe of 1.1%, but below Asia’s growth of 4.3%.” Urama further said during the “Launch of the African Economic Outlook 2023 on the sidelines of the AfDB’s Annual Meetings in Sharm El-Sheikh.

Despite the challenges posed by the coronavirus pandemic, East Africa managed to stay resilient with its economy growing by 5.5 percent in 2020, he added.

“However, the incredible resilience of Africa cuts across all the regions.” Urama noted.