African economies will grow but poverty will not decrease

Nairobi, Apr 8 (Prenza Latina) Sub-Saharan Africa's economy will grow by 3.4 percent this year, but will not have a significant impact on poverty reduction, the World Bank (WB) said today.

They also reported that it will increase by 3.8 percent by 2025. The WB report makes it clear that this is a weak recovery and not enough to achieve a significant effect on reducing poverty in the region.

The document, titled Africa's Pulse, says that while African economies will jump to 2.6 percent growth in 2023 and inflation will slow to an average of 7.1 to 5.1 percent this year, factors such as government liquidity, debt and structural inequality will play a role.

Frequent natural disasters and increased conflict and violence in countries such as Sudan and Ethiopia, combined with uncertain global economic conditions, mean that the recovery remains fragile.

To promote strong and equitable growth, the World Bank recommends policy measures to restore macroeconomic stability, promote intergenerational mobility, support market access, and ensure that fiscal policies do not unduly burden the poor.

However, analysts feel that the paper lacks an in-depth explanation of the causes of the problem and avoids exploring the details that could solve the problem, such as social issues and the necessary support from rich countries.

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