Central Africa emerges as the continent’s economic powerhouse

Central Africa “s economic performance was powered by the DRC, which grew at a jaw-dropping 8.5% in 2022. Central Africa growth rate was higher than the African average, which is estimated at 3.8% in 2022, down from 4.8% in 2021. The region id projected to settle at 4.9% in 2023 and 4.6% in 2024.. Central Africa achieved real GDP growth of 5.0 per cent in 2022…

•Central Africa’s economic performance was powered by the DRC, which grew at a jaw-dropping 8.5% in 2022.

•Central Africa growth rate was higher than the African average, which is estimated at 3.8% in 2022, down from 4.8% in 2021.

•The region id projected to settle at 4.9% in 2023 and 4.6% in 2024.

Central Africa achieved real GDP growth of 5.0 per cent in 2022 compared with 3.4 per cent in 2021, as the region posted the strongest performance compared to other regions in the continent.

This was in terms of growth, inflation and budget deficit, a new report by the African Development Bank (AfDB) indicates.

The rebound in economic activity was driven by favourable prices for raw materials. Increasingly, Central Africa economies are turning out to be a net exporter of crude oil, minerals and other commodities.

In comparison, the region’s …

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