African economies to grow 3.4% this year

African economies, which registered an average growth in Gross Domestic Product (GDP) of 2.2% in 2016, will strengthen, with growth of 3.4% in 2017, and 4.3% in 2018, according to the annual report from the African Development Bank (AfDB).

This growth is boosted to a large extent by an increase in internal demand, and the performance of some countries.

Africa taken as a whole keeps second place among the fastest growing economies in the world, after South Asia.

An improvement in the supply conditions, and a favourable business environment, prudent macroeconomic management, favourable external financial currents, and the significant importance of public spending are elements which have contributed towards this improvement.

Source: Official Web Page of the Government of the Republic of Equatorial Guinea

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