The Economic Commission for Africa (ECA) says Africa’s economy could experience positive growth if the continent’s multiple shocks were adequately addressed.
In a statement, Adam Elhiraika, ECA director of the macroeconomics and governance division, said this at the ongoing experts meeting in Ethiopia.
Elhiraika said an overview of the recent economic and social developments in Africa by ECA centred on the complex economic and financial picture of the confluence of shocks that slowed down the global economy.
He said these shocks included the COVID-19 pandemic impact, price rise fueled by Ukraine’s conflict, and extreme weather patterns.
“The result is that Africa currently accounts for the largest share of the world’s poor, with 149 million previously non-poor Africans now facing the risk of falling into poverty. The global picture is different. In 2022, Africa saw the fastest expansion among developing world countries after East and South Asia,” Mr Elhiraika explained….
