Russia and Brazil both feature in the list of the world’s 10 worst economic performers for this year. Which African country made the list? The answer: not one.
A survey by Bloomberg, which included a total of 47 economies, revealed South Africa to be the lowest-ranked country on the continent – but at number 19 globally. With a projected growth of nearly 2%, it will still do better than its BRICS counterparts Russia and Brazil, whose forecast growth stands at -3.5% and -1.6% respectively. Ukraine, at -4%, is the world’s worst performer for 2015.
Even though the global economy remains weak, Africa’s economic prospects are looking good. According to a recent report by African Economic Outlook, the continent can expect its GDP to strengthen to 4.5% by the end of the year, while 2016 should see an increase to 5%.
This boost in growth is the result of an increase in domestic demand experienced in many countries.
