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Sub-Saharan Africa to see modest growth in 2016

Economic growth in sub-Saharan Africa is forecast to pick up to 4.2% this year, as commodity prices stabilise and electrical power supply improves in many countries, the World Bank’s latest Global Economic Prospects report states. Activity would vary across the region, with consumption growth remaining weak in oil exporting countries as fuel costs rise with the removal of subsidies and as currency depreciations erode consumer spending. In contrast, lower inflation in oil importing countries would help boost consumer spending.