African bank

The African Development Bank (AfDB) predicts that Libya's economy will experience growth at a rate of 7.9 per cent, noting that the anticipated growth rate for North Africa is stable at 3.9 per cent for the year 2024.

In its recent report on Friday, the Bank also forecasts that the Algerian economy will grow by 4.2 per cent, the Tunisian economy by 2.1 per cent, Morocco by 3.5 per cent, and Mauritania by 5.2 per cent during 2024.

The data was the latest issued by the AfDB as part of its report containing recommendations for governments addressing ongoing inflation and the use of monetary policies.

The Bank publishes its report at the beginning and the fourth quarter of each year, serving as a supplement to the reference report on economic prospects in Africa.

The report provides policymakers, international investors, researchers, and development partners with an updated and reasoned assessment of macroeconomic data and medium-term prospects for the continent amidst the shifting global economy.