Africa: World Bank Lowers Sub-Saharan Africa Growth Forecast On Sudan Conflict

TLDR

• World Bank revises 2024 Sub-Saharan Africa economic growth forecast to 3% due to ongoing civil war in Sudan impacting regional activity.
• Conflict in Sudan displaces 11 million people and causes economic collapse, with Sudan’s economy projected to contract by 15.1% in 2024.
• Excluding Sudan, Sub-Saharan Africa expected to grow by 3.5% next year, with forecasted average growth of 4% in 2025 and 2026 driven by private consumption and investment.

The World Bank has revised down its 2024 economic…