itemprop=description content=The World Bank says rising instability, weak growth in the region's largest economies, and lingering uncertainty in the global economy are dragging down growth prospects in Sub-Saharan Africa(SSA).
The World Bank says rising instability, weak growth in the region's largest economies, and lingering uncertainty in the global economy are dragging down growth prospects in Sub-Saharan Africa.
"Nigeria and Angola are projected to grow at 2.9 per cent and 1.3 per cent respectively, due to lower international prices and currency pressures affecting oil and non-oil activity." "With up to 12 million young Africans entering the labour market across the region each year, it has never been more urgent for policymakers to transform their economies and deliver growth to people through better jobs."It said inflation was expected to decline from 9.3 per cent in 2022 to 7.3 per cent in 2023 and fiscal balances were improving in African countries that were pursuing prudent and coordinated macroeconomic policies.
It said overall, current growth rates in the region were inadequate to create enough high-quality jobs to meet increases in the working-age population. "This will require an ecosystem that facilitates private-sector development and firm growth, as well as skill development that matches business demand."There was a problem processing your submission. Please try again later.
" Vocational education can be useful for addressing the underemployed and those who have missed out on education as children."
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