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Another disappointing year

Economic growth in Africa is likely to come in at just 3% this year, as the slump that began in 2015 drags on. The limit on regional growth will, again, come from South Africa where hopes for a meaningful rebound this year look too optimistic. We also think that Angola’s recession will continue. And while growth in Nigeria will accelerate a touch, we expect that the economy will stay weak. Smaller economies such as Ethiopia and Kenya should continue to outperform. Across the region, public debt problems will mount. The need for fiscal adjustment is particularly pressing in Nigeria, Ghana, and Zambia.

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