October 2024 Regional Economic Outlook for Sub-Saharan Africa (SSA) |27 November 2024

‘Macroeconomic imbalances are gradually easing in the region’

The October 2024 Regional Economic Outlook for Sub-Saharan Africa (SSA) has announced that macroeconomic imbalances are gradually easing in the region, thanks to policy adjustments.

Inflation has declined in many countries, but challenges remain. International bond markets have reopened. Exchange rate pressures have partially eased since January 2024. Growth is expected to pick up modestly in 2025 (delayed but broad-based recovery next year, driven by expectations of less-frequent blackouts, macroeconomic stabilisation, and more accommodative monetary policy), but with significant heterogeneity and divergent long-term patterns (resource vs. non-resource-intensive countries). The per capita income growth is insufficient to improve living standards and there is little convergence with global income levels. 

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