Sub-Saharan Africa

Despite the turbulent global economic environment in 2011, growth in Sub-Saharan Africa remained robust, steadying at 4.7 percent in 2011 - just shy of its pre-crisis average of 5 percent. Excluding South Africa, which accounts for over a third of the regions GDP, growth in the rest of Sub Saharan Africa was stronger at 5.6 percent in 2011, making it one of the fastest growing developing regions. Looking forward, still high commodity prices, ongoing investments in new mineral discoveries, policy loosening in some countries, and lower inflation rates, should support robust domestic demand, with GDP growth projected at 5 percent in 2012, with a pick up expected in 2013 as the global economy rebounds. Nonetheless risks to these forecasts remain tilted to the downside, as the global economy remains fragile, and weaker growth in China could curtail growth in the resource-dependent Sub Saharan economies.