Economic growth is expected to rebound in Sub-Saharan Africa, supported by increased private consumption and declining inflation in 2024. However, this positive outlook remains fragile due to uncertain global economic conditions, low fiscal buffers, growing debt service obligation, costly external borrowing, and escalating conflict and violence, which continue to weigh on economic activity in the region. Despite the projected boost in growth, the pace of economic expansion in the region remains slow and insufficient to significantly affect poverty reduction. Structural inequality is at the core of these challenges and tackling it can help to restore growth and accelerate poverty reduction. While domestic resource mobilization and support from the international community can help alleviate the region's funding squeeze, investing in human capital, and strengthening local capacity for service delivery can build people's capacity to seize market opportunities. Policies that boost market access by addressing institutional distortions and market imperfections are also critical for fostering inclusive growth.
Authors
- Associated content
- Office of the Chief Economist, Africa Region
- Citation
- “ World Bank . 2024 . Africa's Pulse, No. 29, April 2024: Tackling Inequality to Revitalize Growth and Reduce Poverty in Africa . © Washington, DC: World Bank . http://hdl.handle.net/10986/41213 License: CC BY 3.0 IGO . ”
- Collection(s)
- Africa's Pulse French PDFs Available
- DOI
- https://doi.org/10.1596/41213
- ISBN
- 978-1-4648-2109-7 (electronic)
- Published in
- United States of America
- Report
- 189043
- Rights
- CC BY 3.0 IGO
- Rights Holder
- World Bank
- Rights URI
- https://creativecommons.org/licenses/by/3.0/igo/
- UNIT
- AFEVP - Office of the Chief Economist for the Africa Region
- URI
- https://hdl.handle.net/10986/41213
- date disclosure
- 2024-04-08
- region administrative
- Africa
- region geographical
- Sub-Saharan Africa