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Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . [ 2 ]
At the bottom of the list, South Africa had a growth rate of 0.1% while Equatorial Guinea’s economy had receded with a rate of -1.8%. World Bank estimates for 2022 presented a different picture, with Niger leading economic growth at 11.5%, South Sudan receding at a rate of -10.8% and the continent as a whole seeing an average of 4.2% growth. [3]
In 2024, the country's National Assembly denied that it had proposed to strip the central bank of the power to set interest rates. [128] Nigeria leads the fintech sector, accounting for 28% of all fintech companies on the continent. [129] As of January 2024, Africa has over 1,263 active fintech companies. [130]
In 2020, the real GDP of Tanzania grew by 4.8% reaching US$89.5 billion versus US$82.9 billion in 2019. This growth made it the 2nd largest economy in East Africa after Kenya, and the 7th largest in Sub-Saharan Africa. [28] It has sustained relatively high economic growth compared to global trends, as is characteristic of African nations.
The country's economy is the second largest in Africa by nominal GDP, and 39th in worldwide ranking as of 2024. Since the 2000s, the pace of structural reforms (including fiscal and monetary policies, taxation, privatization and new business legislation) helped Egypt move towards a more market-oriented economy and prompted increased foreign ...
The impact of global warming is costing African nations up to 5% of their economic output, the United Nations climate chief said on Thursday, calling for more investments to help adapt to climate ...
The new deficit plan compares with an initial target of 3% of GDP for 2024, and is in line with a "more proactive" fiscal policy outlined by leading officials after December's Politburo meeting ...
Sub-Saharan Africa was severely harmed when government revenue declined from 22% of GDP in 2011 to 17% in 2021. 15 African nations hold significant debt risk, and 7 are currently in financial crisis according to the IMF. The region went on to receive IMF Special Drawing Rights of $23 billion in 2021 to assist critical public spending. [32] [33 ...