In its latest semi-annual analysis of its near-term regional macroeconomic outlook, the World Bank estimated that Africa is achieving a growth rate of 3.6% in 2022, down from 4% in 2021.
This decline was affected by the turbulence in the level of demand and supply globally, and the high rates of inflation. The continent is still struggling with the COVID-19 repercussions, in addition to the challenges of growth in the region, and the high prices of global commodities. It is increasing at a faster pace since the beginning of the conflict between Russia and Ukraine.
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