African economies to grow by 4.4% in 2016, up from 3.7% in 2015

Africa will record a 4.4 percent economic growth this year, up from 3.7 percent in 2015 buoyed by increasing domestic demand and improved investment in infrastructure, the United Nations has predicated.

According to the latest UN World Economic Situation Prospects Report released on Tuesday by the world body’s Economic Commission for Africa (UNECA) in Addis Ababa, Ethiopia, an improved regional business environment and increasing public investment especially in infrastructure will also drive growth.

Other factors would include improved macroeconomics management, a buoyant service sector, and increasing trade and investment ties with emerging economies.
 Adam Elhiraika, UNECA’s macroeconomic policy division director said the same factors would support regional growth in 2017, which is forecast to remain at 4.4 percent.

Read more: African economies to grow by 4.4 percent in 2016 | East & Horn Africa