Africa's GDP growth rate to Slowdown
Sub-Saharan Africa countries are continuing to grow, although at a slower pace, due to a more challenging economic environment. According to new World Bank projections, Growth will slow in 2015 to 3.7 percent from 4.6 percent in 2014, reaching the lowest growth rate since 2009.These latest figures are outlined in the World Bank’s new Africa’s Pulse , the biannual analysis of economic trends on the continent. Overall, growth in the region is projected to pick up to 4.4 percent in 2016, and further strengthen to 4.8 percent in 2017. Africa’s Pulse notes that overall decline in growth in the region is due to several factors and vary from country to country. For example, In Ghana, South Africa, and Zambia, domestic factors such as electricity supply constraints are further stemming growth. Fiscal deficits across African countries are now larger than they were at the onset of the global financial crisis. Rising wage bills and lower revenues is leading to a widening o