By 2030, the economies of Egypt and Nigeria are forecast to be bigger than that of Australia and the Netherlands, with estimated GDPs of US$2.05 trillion and US$1.79 trillion respectively. This will make Egypt the most powerful economy on the continent.
As reported by Business Tech, these estimates are by PwC – which ranked 32 countries using their predicted global GDP by purchasing power parity. South Africa also made the list with a projected GDP of US$1.15 trillion by 2030.
However, the report states that to support long-term growth, Nigeria and South Africa need to develop broader-based economies, diversifying exports to ensure growth is not hindered by global price or demand shocks.
