Economic Downturn to impact African growth 2009
Posted on 04 March 2009
Tags: Africa
oil
The IMF has announced to revise the economical growth forecast for 2009 in Africa from 6.3% to 3.3%, due to the current economical world crisis. The biggest decline is said to be in oil exporting African countries, due to the downwards trend of oil prices since July 2008 the statement says. The report is also stating that most of the African countries will heavily rely on the support from donors, as they can not afford that their budget deficit is widening.
Source Reuters:
No related posts.