Browsing: Flattening the curve

Africa is reeling from the effects of the covid-19 pandemic which has slowed down its growth projections significantly.

According to the African Development Bank (AfDB), the continent’s growth trajectory could rebound in 2021 but with the governments’ proactively managing the virus and infection rates well.

AfDB projects that the continent’s economic growth could rebound to 3 per cent in 2021 from -3.4 per cent in the worst-case scenario for 2020.

Read: COVID-19’s effect on the construction market in East Africa

The predictions are contained in a supplement to the Bank’s African Economic Outlook, which was released on 30 January. At the time, Africa’s growth was forecast at 3.9 per cent in 2020 and 4.1 per cent in 2021.

Africa’s real GDP is projected to contract by 1.7 per cent in 2020, dropping by 5.6 percentage points from January 2020 pre-COVID–19 projection, if the virus has a substantial impact but of …