Growth in Africa to reach 3.4 pct in 2017, 4.3 pct in 2018: OECD, AfDB

Mon Jun 12, 2017 11:23am GMT
 

BERLIN (Reuters) - The Organisation for Economic Co-operation and Development (OECD) and the African Development Bank (AfDB) expect economic growth in Africa to pick up this year and next.

Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product (GDP) to expand by 3.4 percent this year after 2.2 percent in the previous year.

For 2018, OECD and AfDB expect the upturn to gain further momentum with a predicted expansion rate of 4.3 percent.

(Reporting by Gernot Heller; Writing by Michael Nienaber; Editing by Andrea Shalal)

Employees work on the manufacturing line at the United Aryan Export Processing Zone textile factory in Nairobi, Kenya April 13, 2017. REUTERS/Baz Ratner/File Photo
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