• Change of pace

    Change of pace

    Russia and Brazil both feature in the list of the world’s 10 worst economic performers for this year. Which African country made the list? The answer: not one.

    A survey by Bloomberg, which included a total of 47 economies, revealed South Africa to be the lowest-ranked country on the continent – but at number 19 globally. With a projected growth of nearly 2%, it will still do better than its BRICS counterparts Russia and Brazil, whose forecast growth stands at -3.5% and -1.6% respectively. Ukraine, at -4%, is the world’s worst performer for 2015.

    Even though the global economy remains weak, Africa’s economic prospects are looking good. According to a recent report by African Economic Outlook, the continent can expect its GDP to strengthen to 4.5% by the end of the year, while 2016 should see an increase to 5%.

    This boost in growth is the result of an increase in domestic demand experienced in many countries.

    7 July 2015
    Image: Gallo/GettyImages