Mauritius’s GDP will expand by 3.7% in 2016 as per the World Bank Global Economic Outlook 2016.
Mauritius’s Gross Domestic Product (GDP) will expand by 3.7% in 2016 as per the World Bank Global Economic Outlook 2016 report. Sub-Saharan Africa growth faces a challenging near-term outlook after slowing to 3.4% in 2015, adding that activity is expected to pick up to 4.2% in 2016 and to 4.7% in 2017-18.
Mauritius’s Gross Domestic Product (GDP) will expand by 3.7% in 2016 as per the World Bank Global Economic Outlook 2016 report.
The forecast represents a slight increase of 0.2% point for the 2015 forecasted growth cited the World Bank report.
The World Bank was more cautious than the International Monetary Fund which estimated that Mauritius’s economy will grow at 4% in 2016.
Sub-Saharan Africa growth slowed to an estimated 3.4% in 2015, the lowest rate since 2009, due to low commodity prices and infrastructure constraints. A rebound is expected in 2016-18, as these headwinds wane, providing some support for government spending and private investment. A modest
The bank said activity would remain subdued in Nigeria, South Africa and Angola, the region’s three largest economies.
Nigeria, which is facing power and fuel shortages, is expected to grow at 4.6% in 2016, South Africa at 1.4% and Angola at 3.3%.
According to the bank, the sub-Saharan Africa’s low-income countries are expected to continue to sustain high GDP growths because many of them have limited exposure to the commodities that are experiencing the most severe decline in prices in the global markets currently.
The performance will vary from one sub-region to the other, and the two biggest economies on the continent, Nigeria and South Africa, will each record GDP growth of 4.6% and 1.4% respectively (against 3.3% and 1.3% in 2015).
“Public investment, consumer spending, and mining production will help Côte d’Ivoire, Ethiopia, Mozambique, Rwanda, and Tanzania sustain rapid growth in 2016 and beyond,” it said.
On the global front, World Bank said growth fell short of expectations in 2015, slowing to 2.4% from 2.6% in 2014.
“The disappointing performance was mainly due to a continued deceleration of economic activity in emerging and developing economies.”
“Going forward, global growth is projected to edge up, but at a slower pace than envisioned in the June 2015 forecast, reaching 2.9% in 2016 and 3.1% in 2017-18,” the bank said.
The highest expansion rates in Africa will be in Ethiopia (10.2%), Democratic Republic of Congo (8.6 % and Cote d’ Ivoire (8.3%).
The global economy is expected to expand by 2.9% in 2016 against 2.4% in 2015, the World Bank report said.