Central Africa economic outlook 2023
Central Africa achieved real GDP growth of 5.0 percent in 2022, compared with 3.4 percent in 2021. The rebound in economic activity was driven by favourable prices for raw materials, in a region that is home to net exporters of crude oil, minerals and other commodities. The region’s growth rate was higher than the African average, which is estimated at 3.8 percent in 2022, down from 4.8 percent in 2021. It is set to settle at 4.9 percent in 2023 and 4.6 percent in 2024. These are some of the findings of the Central African Economic Outlook 2023 report, published on 31 July by the African Development Bank. The report has the theme “Mobilizing Private-Sector Financing for Climate and Green Growth in Africa”. Produced annually by the African Development Bank, the report offers an assessment of the region’s recent macroeconomic performance. It also examines medium-term projections and the risks to the region’s growth outlook, providing in-depth analysis of topical issues that the region is grappling with.