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Top 10 African Countries With Highest GDP: 2023 IMF Forecast
Top 10 African Countries With Highest GDP: 2023 IMF Forecast
Sputnik Africa
According to the UN, Africa's growing population and consumer markets offer new business opportunities and make the region strategically important for... 11.11.2023, Sputnik Africa
2023-11-11T10:52+0100
2023-11-11T10:52+0100
2023-11-11T10:52+0100
mozambique
cote d'ivoire (ivory coast)
rwanda
international monetary fund (imf)
guinea
the gambia
ethiopia
togo
benin
tanzania
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Mozambique, the Democratic Republic of Congo, Cote d'Ivoire and Rwanda occupy the podium of the top ten African countries expected to have the highest GDP on the continent by the end of 2023, according to a ranking by Business Insider Africa, based on data from the International Monetary Fund (IMF).According to the IMF's reference scenario, published at the end of October, the GDP of these countries should reach 7%, 6.7% and 6.2% respectively. They are followed by Ethiopia (6.1%), Guinea (5.9%) and Gambia (5.6%). Rounding out the ranking are Benin (5.5%), Togo (5.4%) and Tanzania (5.2%).The organization explained that inflation continues to fall as central banks continue to pursue restrictive policies. However, this does not take into account a decline in real global GDP per capita, which often occurs during global recessions.Economic growth and employment remained stronger in the first half of the year compared to the April 2023 World Economic Outlook. These forecasts are particularly important for the continent as they provide crucial insights into its overall development path, growth prospects, and economic well-being, Business Insider Africa explained.
https://en.sputniknews.africa/20230826/ethiopias-membership-in-brics-to-expand-its-economic-growth-increase-influence-pm-adviser-says-1061652209.html
mozambique
cote d'ivoire (ivory coast)
rwanda
guinea
the gambia
ethiopia
togo
benin
tanzania
democratic republic of the congo (drc)
east africa
central africa
southern africa
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mozambique, cote d'ivoire (ivory coast), rwanda, international monetary fund (imf), guinea, the gambia, ethiopia, togo, benin, tanzania, democratic republic of the congo (drc), east africa, central africa, southern africa, international, gdp, economy, economic growth
mozambique, cote d'ivoire (ivory coast), rwanda, international monetary fund (imf), guinea, the gambia, ethiopia, togo, benin, tanzania, democratic republic of the congo (drc), east africa, central africa, southern africa, international, gdp, economy, economic growth
Top 10 African Countries With Highest GDP: 2023 IMF Forecast
According to the UN, Africa's growing population and consumer markets offer new business opportunities and make the region strategically important for diversified supply chains.
Mozambique, the Democratic Republic of Congo, Cote d'Ivoire and Rwanda occupy the podium of the top ten African countries expected to have the highest GDP on the continent by the end of 2023, according to a ranking by Business Insider Africa, based on data from the International Monetary Fund (IMF).
According to the
IMF's reference scenario, published at the end of October, the GDP of these countries should reach 7%, 6.7% and 6.2% respectively. They are followed by Ethiopia (6.1%), Guinea (5.9%) and Gambia (5.6%). Rounding out the ranking are Benin (5.5%), Togo (5.4%) and Tanzania (5.2%).
The organization explained that inflation continues to fall as central banks continue to pursue restrictive policies. However, this does not take into account a decline in real
global GDP per capita, which often occurs during global recessions.
Economic growth and employment remained stronger in the first half of the year compared to the April 2023 World Economic Outlook. These forecasts are particularly important for the continent as they provide crucial insights into its overall development path, growth prospects, and economic well-being, Business Insider Africa explained.
Top 10 African Countries With Highest GDP Forecast 2023
Place | Country | GDP Forecast |
1. | Mozambique | 7.0% |
2. | Democratic Republic of the Congo | 6.7% |
3. | Cote d'Ivoire | 6.2% |
4. | Rwanda | 6.2% |
5. | Ethiopia | 6.1% |
6. | Guinea | 5.9% |
7. | The Gambia | 5.6% |
8. | Benin | 5.5% |
9. | Togo | 5.4% |
10. | Tanzania | 5.2% |
