According to the latest report from consultancy FocusEconomics, which uses data from central banks and national statistics institutes of the countries in this region, Nigeria’S economy is now worth about US$455 billion.
After Nigeria, the list features South Africa, with US$344 billion, and Kenya, followed by Ethiopia, Ghana, Tanzania and Ivory Coast, before Angola, which is ranked higher than the Democratic Republic of Congo, Cameroon, Uganda, Zambia and Botswana, and Mozambique as the 14th biggest economy in sub-Saharan Africa.
In the document sent to investors, to which Lusa had access, analysts from the Barcelona-based consultancy pointed to the region’s GDP at US$1.5 billion, which should grow to over US$2 billion in the next five years.
For this year, the analysts estimate economic growth of 1.4 percent in Angola, which should accelerate to 2.7 percent next year, with prices expected to rise by 21 percent this year and 15 percent in 2022.
For Mozambique, the only other Portuguese-speaking country analyzed in the document, FocusEconomics revised downward its growth outlook for this year, now forecasting an expansion of 2.3 percent, 0.5 percentage points less than last month, and forecasting an acceleration to 4.4 percent next year.