The theme across the African continent for national economies in 2023 is uncertainty. North Africa’s regional growth is forecast to slow down in terms of real GDP growth, from an average of 4.2% in 2022 to 3.8% in 2023. The course of the Russia-Ukraine conflict remains highly unpredictable, resulting in unstable inflation rates consequently pushing up food and fuel prices for large sections of societies across North Africa. Economic recovery will be uneven as oil and gas producers in the region such as Algeria and Egypt have the potential to benefit from elevated energy prices.
Source : Invest Africa Insights