African Economic Outlook,IMF economic outlook Stories

FDI inflows to emerging markets and developing economies (EMDEs) have weakened steadily as a share of their GDP since the global financial crisis

Data from the Kenya National Bureau of Statistics shows that 782,300 new jobs were created in 2024, a drop from 848,100 the year before.

In Africa, the International Labour Organisation has downgraded the employment growth prospect from the earlier 1.8 per cent to 1.6 per cent.

The projection also represents a significant cut from its earlier forecast of 5.0 per cent growth made in January.

Official statistics from the Kenya National Bureau of Statistics show formal job creation fell to 75,500 in 2024, down sharply from 123,000 in 2023.

The lender credits the upgrade to robust growth in agriculture and vital service sectors, particularly fintech and mobile money.

The lender highlights the narrowing room for manoeuvre in the country’s budget, driven by ballooning debt servicing costs, persistent revenue shortfal...

The country’s resurgent inflation, driven by surging electricity and fuel costs, could force policymakers to consider rate hikes to keep price growth...

In Kenya, data from the Kenya National Bureau of Statistics (KNBS) estimates the poverty rate at about 40 per cent.

Critics are questioning whether external observers and global investors truly understood Kenya’s realities.

Armed conflicts are also weighing on growth, the IMF said, citing South Sudan's oil exports blocked by conflict in neighbouring Sudan.

According to the latest African Economic Outlook by the African Development Bank (AfDB), the region is poised to record a 4.9 per cent GDP growth, the...

This anticipated rebound in growth is expected to be supported by improvements in global economic conditions and effective policy measures.