African Economic Outlook 2020
Africa’s economic growth has stabilized at 3.4 percent in 2019 and is expected to pick up to 3.9 percent in 2020 and 4.1 percent in 2021 but to remain below historical highs. Growth’s fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. For the first time in a decade, investment accounted for more than half the continent’s growth, with private consumption accounting for less than one third. The 2020 Outlook highlights, however, that growth has been less than inclusive. Only about a third of African countries achieved inclusive growth, reducing both poverty and inequality. The special theme this year is delivering education and skills for Africa’s workforce of the future. Despite progress in recent decades, Africa still lags behind other developing regions in education and skill development. Policy actions should include measures to improve both the quantity and the quality of education and align education policy with labor market needs.
