The News
The World Bank downgraded its projections for economic growth in Kenya, a week after South Africa unexpectedly said its economy shrank in the third quarter.
The announcements point to the challenges facing some of Africa’s biggest economies, which are variously grappling with persistent inflation, insufficient infrastructure, and debt. The World Bank cited the fallout from anti-government protests as well as the impact of flooding in reducing its Kenya forecast, while South Africa — the continent’s biggest economy — blamed its contraction on an under-performing agriculture sector.
Nigeria, Africa’s most populous nation, outperformed growth expectations recently but is also struggling to rein in price increases.
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