The United Nations has predicted a 4 percent growth rate for North Africa’s economies throughout 2016, 0.3 percent lower than predictions made in January 2015.
The growth rate predicted for the whole continent for 2016 was set at 4.8 percent, higher than the current 2015 biannual forecast of 4 percent, but still 0.1 percent lower than in January 2015, according to the United Nations’ World Economic Situation and Prospects 2015.
“The world economy continues to grow at a modest pace. Growth of world gross product is projected to accelerate slightly from 2.6 per cent in 2014 to 2.8 per cent in 2015—a downward revision by 0.3 percentage points from the forecast presented in the World Economic Situation and Prospects 2015 in January,” the report said.
“A large part of the downward revisions for North Africa and for Africa as a whole is due to Libya, which remains trapped in a civil war,” it explained, setting growth predictions for Africa, excluding Libya, at 4 percent.
