Growth in Africa to pick up this year and next: OECD & AfDB

PUBLISHED: Mon, 12 Jun 2017 14:13:05 GMT
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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.

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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)