This year's flagship report is themed: "Regional Integration for Africa's Economic Prosperity." The annual African Economic Outlook report highlights economic prospects and projections for the continent as a whole and for each of the 54 countries. A growth of 7.0% is expected in 2021 as economic recovery fuels consumer demand. 02 01 Energy, resources and industrials . Mizuho Economic Outlook & Analysis Back Number (2020) Mizuho Economic Outlook & Analysis provides Outlooks on the Japanese economy every quarter and in-depth analyses on economic issues on a timely basis. Positive momentum continues to build in many respondents' home countries and in the world economy, according to our latest McKinsey Global Survey on economic conditions. Ministerial Dialogue focuses on energy transitions and economic resilience in the Middle East and North Africa. For more information, see the . Moreover, oil output is seen picking up as OPEC+ eases production cuts. The economy is forecast to gradually recover on the back of rising oil prices and OPEC+ production quotas. These four charts illustrate how the global economy and insurance markets are projected to fare in 2021. more than 75% of rated banks in 2020 had a negative outlook, compared to just 14% in 2019. 23 Sep 2021 13:30—15:00 . The Fintech Times has announced the release of a new report analysing the fintech ecosystem in the Middle East and Africa (MEA). • U.S. projections in the IEO2021 reflect the published projections in the Annual Energy Outlook 2021,4 which assumes U.S. laws and regulations, current as of September 2020, remain unchanged. The OECD's Interim Economic Outlook for March 2021 (external link) shows improving global economic prospects, supported by the rollout of vaccines, additional fiscal stimulus, and smaller adverse impacts from containment measures in many economies. While imports grew for all the regions, the export rebound was largely confined to East Asian and Pacific economies. African economy to rebound by +3.2% in 2021. Economic growth is constrained by poor infrastructure, unreliable power, low agricultural productivity, poor governance, and lack of market competitiveness. At the same time, challenges that are inherently regional have It offers short and medium term forecasts on the main socio-economic factors such as jobs, while at the same time examining the challenges . It provides a broad overview of recent economic developments and of prospects and policy issues for the medium term. The IMF announced an upgrade to global growth in its World Economic Outlook on Tuesday (April 6) in Washington, DC. Mediterranean-Africa+MED+Dialogue+31.pdf. This follows the sharp contraction in 2020 and is much welcome, but still represents the slowest recovery relative to other regions. Outlook: Economic activity in the Middle East and North Africa is forecast to recover modestly to 2.1% in 2021, reflecting the lasting damage from the pandemic and low oil prices. The East Africa cement market reached a value of US$ 2,553 Million in 2021. Higher household spending will boost domestic activity as pent-up demand is released, while continued foreign demand will bolster exports. FY2021-FY2022 Economic Outlook: May 20, 2021―The global economy is driven by the US and China. External Balance in Developing CountriesRegional Economic Outlook, April 2021, Middle East and Central AsiaRenewable energy market analysis: GCC 2019Regional Economic Outlook, May 2007, . "Living with Debt: How Institutions Can Chart a Path to Recovery for the Middle East and North Africa" Middle East and North Africa Economic Update (April), Washington, DC: World Bank. GLOBAL ECONOMIC PROSPECTS | JUNE 2021 MIDDLE EAST AND NORTH AFRICA 83 revenue recoveries (figure 2.4.2.C). Reinforcing the region's economic potential in a post-COVID-19 context requires a holistic, inclusive and growth‑oriented approach to policy making. OECD‑FAO Agricultural Outlook 2016‑2025 SpECiAl FOCuS: Sub‑SAhArAn AFriCA OECD‑FAO Agricultural Outlook 2016‑2025 The twelfth joint edition of the OECD-FAO Agricultural Outlook provides market projections to 2025 for major agricultural commodities, biofuels and fish. April 11, 2021 Regional Economic Outlook: Trade-Offs Today for Transformation Tomorrow Description: A year into the coronavirus (COVID-19) pandemic, the race between vaccine and virus entered a new phase in the Middle East and Central Asia region, and the path to recovery in 2021 is expected to be long and divergent. October 7, 2021; EIA projects nearly 50% increase in world energy use by 2050, led by growth in renewables; October 6, 2021; EIA projects accelerating renewable consumption and steady liquid fuels growth to 2050; October 6, 2021; International Energy Outlook 2021 Fact Sheet: Oil and Gas Tool; October 6, 2021 (8) - Qatar Economic Outlook Report 2015 - 2017 Updated December 2015 No. EAST AFRICA REGIONAL DEVELOPMENT COOPERATION STRATEGY 2016-2021 1 A. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of . The future sustainable economic development and well-being of citizens in South East Europe depend on greater economic competitiveness. Global economic outlook Prospects for the world economy in 2020 and 2021 Global growth . In the East Africa region, trade and investment barriers hinder economic integration and rapid population growth, including a growing youth population, complicate efforts to reduce poverty. The contraction was mainly attributed to slowdown in economic activities due to. The rebound in 2021 depends on Inflation 30 2.6. in the African energy system must double by 2030 - to appro-ximately 40-65 billion USD. Oil exporters, resource intensive and tourism dependent countries will be most hit, while non- . Like all forecasts, this should be treated with caution. East Africa-Eastern/Central Europe corridor. Regional Economic Outlook for Sub-Saharan Africa, April 2021 April 15, 2021 Description: Despite turning out better than expected, growth in 2020 is estimated to be the worst on record, at -1.9 percent, leading to a large increase in poverty. Thirteen East African economies are projected to collectively expand by 4.1% in 2021 from 0.4% last year, supported by a global recovery, according to an African Development Bank report. The country has the largest economy in East Africa. Key questions for the outlook 7 2. MENA GDP forecast to accelerate n in 2022 Regional economic growth is projected to accelerate this year, after 2021's slight rebound. Read PDF Gcc Market Overview And Economic Outlook 2017 A . Undeterred by the Covid-19 pandemic, China, Russia, Turkey and the Arab . Pharmaceutical companies may produce enough doses by end-2021 to vaccinate one billion individuals. pandemic on East African economies, published in May 2020. . Report Project Plans, Constraints to Growth and the Impact of Cost Escalation through The Middle East and North Africa (MENA) Prism . IMF's April 2020 World Economic Outlook. Sami Al Qamzi also revealed the results of a recent study by Dubai Economy, which estimates growth to accelerate to 4 per cent in the emirate by 2021 taking into account prevailing conditions and the outlook for the global economy. Acha Leke Senior Partner and Chairman, Africa Region, . he Rwanda Economic Update (REU), published twice a year, analyzes recent economic developments and prospects and Rwanda's policy priorities. Financial conditions 14 2.3. Economic activity can recover when risks to the vulnerable parts of the population fall. For 2020, the real Gross Domestic Product (GDP) in the region . Overall, East Africa's GDP growth is projected to recover to an average of 4.1% in 2021 from 0.4% in 2020, supported by the global economic . The REU draws on With growth in premiums already constrained moving in to 2021, insurers need to immerse themselves into . Outlook for 2022 remains positive Economic growth in the majority of countries in the region should accelerate this year, following 2021's relatively muted rebound. The report is divided into three chapters, with the first covering the economic . That is a big turnaround from an estimated contraction of -3.3 percent in 2020 when the world was hit by pandemic. The growth outlook 17 2.4. Opportunities to advance sustainable economic growth and human development are increasing. That said, some fiscal consolidation and regional tensions pose risks to the outlook. Global Economic Outlook 2022 Webinar. Tanzania, which is the secondmain economy in the . East Africa's economy growth might rebound to 4.1 percent in 2021, according to estimates done in September that year. The trade patterns in Q1 2021 have been varied across geographic regions. The South African . The economic impact of confinement measures in the first half of 2020 Preliminary reports issued by the Dubai . COVID-19 will have a severe economic impact on sub-Saharan Africa. East Africa and the Horn comprise 11 states, 315m people, hundreds of ethnic groups, dozens of climatic zones, and various differentiated levels of human development, colonial history, modern political influences, and economic organization all covering nearly 2.4m square miles. But then a new shockwave hit - before the former even had time to settle. Leading the way are six economies among the world's 10 fastest growers: Rwanda, Ethiopia, Côte d'Ivoire, Ghana, Tanzania, and Benin. WEO World Economic Outlook WHO World Health Organization ZW Zimbabwe. Topics of discussion will include: The maturing post-pandemic recovery; Prospects for global inflation in 2022; Consumer goods shortages and energy price shocks Outlook The regional economy is projected to recover only 22 African countries will grow by +4% and above in 2021. Chapter 1 examines Africa's growth performance and outlook amid the COVID-19 pandemic. In 2021, the region's economy is expected to resume expansion at 3.4 percent, weaker than the 6 percent for the rest of the world, amid a continued lack of access to vaccines and limited policy space to support the crisis response and . PART I: Economic outlook for EA and EU 5 1. License: Creative Commons Attribution CC BY 3.0 IGO The negative 2021 outlook for Sub-Saharan African (SSA) sovereigns reflects the severe economic challenges the region will grapple with in the fallout from the coronavirus shock, Moody's Investors Service said in a report published today. World real GDP contracted by 4.2 per cent in 2020 compared to a growth of 2.7 per cent. pdf Kenya East Africa . The year began with a relatively bright outlook for the world economy following a strong recovery in 2021. The global economy is projected to grow at 6 percent in 2021, moderating to 4.4 percent in 2022. Going into 2021, the likelihood of a financial crisis is low . News — 24 September 2021 Reports All reports. (7) - Qatar Economic Outlook Report 2015 - 2017 June 2015 No. Sub-Saharan Africa's economy is set to expand by 3.7 percent in 2021 and 3.8 percent in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,782 Million by 2027, exhibiting at a CAGR of 1.36% during 2022-2027. East Africa has always had to weather changes in the international context while also managing significant local political conflicts and economic problems. A relapse into unsustainable economic patterns, as Against the backdrop of enhanced European Union (EU) accession prospects and a drive towards deeper . The slower than expected growth is partly due to the moderate expansion of the continent's "big five" — Algeria, Egypt, Morocco . Economic growth is expected to remain solid across East Africa. Our Africa-wide economic impact analysis suggests that the continent's manufacturing sector output will contract by at least 10 percent (more than $50 billion) in 2020—with many manufacturers facing much more severe outlooks. The online survey was in the field from May 31 to June 4, 2021, and garnered responses from 1,010 participants representing the full range of regions, industries . The COVID-19 pandemic has hit already stagnant and macroeconomically fragile economies in the Middle East and North Africa (MENA) through lockdown measures, interrupted supply chains, dramatic declines in tourism revenues and labour remittances, and temporarily low oil prices. Labour market 27 2.5. EAC East African Community ECA Economic Commission for Africa ELA Emergency Liquidity Assistance EU European Union . For example, Africa has the richest solar resources on the planet, but has installed only 5 gigawatts of solar photovoltaics (PV), accounting for less than 1% of global capacity. Outlook Growth in Sub-Saharan Africa is expected to rebound only moderately to 2.7 percent in 2021—0.4 percentage point weaker than previously projected—before firming to 3.3 percent in 2022 (figure 2.6.2.A). economy primarily by using energy efficiency, renewables and natural gas all of which - offer huge untapped potential and economic benefits. Real GDP in Advanced Economies. However, in its East Africa Economic Outlook 2021 report, the AfDB estimates that Tanzania's GDP will grow by 2.8% in 2021, and projecting a strong rebound for 2022 and 2023 with 4.9% and 6.3% economic growth respectively. We have raised our forecasts for GDP growth in 2021 in the key emerging markets of Poland (to 4.5%), Russia (3.7%), and South Africa (4.2%), and we maintain our forecast 6.1% growth for Turkey. In 2021, the region's economy is expected to resume expansion at 3.4 percent, weaker than the 6 percent for the rest of the world, amid a continued . A strict pandemic lockdown sharply reduced workplace activity and cost South Africa 1.3m jobs Figure 1: Daily lockdown indicators 0 0 0 20 0 20 0 0 0 00 0 an 20 0 eb 20 0 Mar 20 0 or 20 0 May 20 0 un 20 0 ul 20 0 ug 20 0 ep 20 0 ct 20 0 ov 20 0 Dec 20 8. The 2021 edition of the African Economic Outlook focuses on debt resolution, governance, and growth in Africa. economy, while the opposite tends to be true for non‐OECD countries. In this context, the investments made to address the severe economic consequences of the COVID-19 crisis in Africa must spur the continent's transition towards a sustainable energy future. East Africa 2.5 3.3 3.1 3.2 3.4 Central Africa -2.3 -1.1 0.0 0.2 0.4 The African Development Bank's East Africa Regional Economic Outlook 2021 reviews the economic performance of 13 countries: Burundi, Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania, and Uganda.. Regional Economic Outlook: Sub-Saharan Africa. although a gradual recovery is expected in 2021. For African manufacturers, the COVID-19 crisis has greatly depressed demand and disrupted supply chains. Disparities in capabilities to address the Covid-19 pandemic intensify.― (PDF/781KB) Jul 5, 2021. The Covid-19 crisis dug a deep economic hole in 2020. Emerging market economies in EMEA are recovering faster than we previously expected from the COVID-19 related downturn. Delays in vaccine rollout would lead to additional lockdowns, which in turn impact economic activity. Presented by Brian Coulton, Chief Economist, in conversation with Shelly Shetty, Managing Director, and Co-head of the Americas. The EU economy in autumn 2021 7 1.2. Nov 25, 2021. 50% of the US population may be 'protected' by July '21 (steep fall in new cases), rising to 80% by end '21. In 2021 that hole was filled in. The chapter emphasizes policy options to mitigate the effects of the pandemic in the short, medium, and long terms. Despite turning out better than expected, growth in 2020 is estimated to be the worst on record, at -1.9 percent, leading to a large increase in poverty. The East Africa Economic Outlook 2019 was prepared in the Vice Presidency for Eco-nomic Governance and Knowledge Man-agement, under the supervision and general direction of Célestin Monga, Vice President and Chief Economist, with support from Eric Kehinde Ogunleye, Amah Marie-Aude Ezanin This is mainly due to the impact of Covid-19, low commodity prices and other factors such as the continued structural constraints in South Africa, climate and other natural shocks in East Africa such as the locust invasion. Current account 33 2.7. emergence of the Coronavirus Disease 2019 (COVID-19). The Middle East and North Africa (MENA) are in disarray, and shifts in the field of energy have . In our Market Outlook 2022, we are broadly positive about the near economic future but believe that inflation will continue to be a risk. Africa: Angola, Cabo Verde, Chad, Democratic Republic of the Congo, Ethiopia, Kenya, Mali, Mauritius, Nigeria and South Africa (referred to as the Africa-10) The countries were selected based on regional spread, differences in their domestic economic structure, and their dependency and - Shapes of Economic Recession and Recovery - Indicative Scenarios and Paths Forward 2 • Estimated 2020/2021 Results and 2022 Outlook: Global • Estimated 2020/2021 Results and 2021 Outlook: Regional Breakdown -Africa - Asia/Pacific - Europe - Latin America/Caribbean -Middle East -North America Its real GDP growth, estimated at 3.4 percent for 2019, is projected to accelerate to 3.9 percent in 2020 and to 4.1 percent in 2021. Following the positive news on a COVID-19 vaccine, the risks to our economic outlook are more balanced. 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