COVID19 pushes North Africa’s economy into contraction, growth not expected until 2021

NORTH AFRICA – The Covid-19 pandemic has adversely affected the North African economy to an extent of plunging it into a contraction, a new African Development Bank Economy forecast has shown. According to the African Development Bank, the North African region will face an economic contraction forecast between 0.8 and 2.3%. The economic outlook report by AfDB suggests that the pandemic’s negative impact on global demand and the prices of basic goods is likely to increase fiscal deficits and current account imbalances in the region.  In the worst-case scenario, AfDB…

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