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Global Economy to Expand by 3.1 percent in 2018, Slower Growth Seen Ahead

20 August 2018
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Despite recent softening, global economic growth will remain robust at 3.1 percent in 2018 before slowing gradually over the next two years, as advanced-economy growth decelerates and the recovery in major commodity-exporting emerging market and developing economies levels off, the World Bank said.  

 “If it can be sustained, the robust economic growth that we have seen this year could help lift millions out of poverty, particularly in the fast-growing economies of South Asia,” World Bank Group President Jim Yong Kim said. “But growth alone won’t be enough to address pockets of extreme poverty in other parts of the world. Policymakers need to focus on ways to support growth over the longer run—by boosting productivity and labor force participation—in order to accelerate progress toward ending poverty and boosting shared prosperity.”

Sub-Saharan Africa: Growth in the region is projected to strengthen to 3.1 percent in 2018 and to 3.5 percent in 2019, below its long-term average. Nigeria is anticipated to grow by 2.1 percent this year, as non-oil sector growth remains subdued due to low investment, and at a 2.2 percent pace next year. Angola is expected to grow by 1.7 percent in 2018 and 2.2 percent in 2019, reflecting an increased availability of foreign exchange due to higher oil prices, rising natural gas production, and improved business sentiment. South Africa is forecast to expand 1.4 percent in 2018 and 1.8 percent in 2019 as a pickup in business and consumer confidence supports stronger growth in investment and consumption expenditures. Rising mining output and stable metals prices are anticipated to boost activity in metals exporters. Growth in non-resource-intensive countries is expected to remain robust, supported by improving agricultural conditions and infrastructure investment.

 

  • ATIGS 2018

    ATIGS 2018

    The Pan African Chamber of Commerce and Industry (PACCI) is very pleased to announce our participation as Supporting Organization of the 2018 edition of the Africa Trade & Investment Global Summit (ATIGS).

    The 2018 edition of Africa Trade & Investment Global Summit (ATIGS) is scheduled to be held on June 24-26, 2018 in Washington D.C. ATIGS is a unique high-level conference and trade show, prestigious, biennial business platform designed specifically to promote and facilitate international trade and foreign direct investment in Africa, with attendance projection of over 2,000 participants from more than 70 countries for a three day of networking, markets knowledge sharing, marketing & matchmaking, B2B, G2B, G2G meetings & deal making.

    The event will see the participation of more than 150 speakers, over 160 exhibitors, high-level government delegations, project developers, business leaders, trade promotional organizations (TPOs) and investment promotion agencies (IPAs) from various African countries, and over 350 global investors including pension funds, sovereign wealth funds, private equity and asset management firms. 

    Unlike most talk-shop conferences focused on Africa, ATIGS moves beyond that instead focus on providing first hand face-to-face access to African markets at a one-stop shop by featuring African countries pavilions inside hall one representative companies sourcing for international partners & investments, and government agencies (TPO’s & IPA’s) showcasing the wide range of trade and investment opportunities that are available in their respective countries to connect with companies worldwide looking to expand or establish their business operations in Africa, and global investors with interests in Africa. There will also be Middle East, Europe, U.S.A, Canada, and Asia exhibition/pavilions representing companies & government agencies with interests to engage with Africa.

    For more information and to register follow the link below.

     http://atigs2018.com/eventbrite/

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The Pan African Chamber of Commerce and Industry was established in 2009 by 35 founding national business chambers to influence government policy and create a better operating environment for business.

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