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Despite these challenges, Africa’s economic prospects remain positive. Real gross domestic product growth is projected at 3.5 percent in 2024 and 3.6 percent in 2025, outpacing global averages of 2.9 percent and 2.4 percent, respectively, according to the United Nations.
Africa is on track for rapid economic growth, with 11 of the world’s 20 fastest-growing economies, including Ethiopia, but the continent faces a staggering USD 670 billion annual funding gap to achieve the 2030 Sustainable Development Goals (SDGs), the Economic Commission for Africa (ECA) warns.
A new policy brief by the ECA paints a mixed picture of Africa’s progress toward the 2030 Agenda for Sustainable Development. While the continent is making progress on 12 of the 17 SDGs, the current pace is insufficient to meet the targets by 2030. African countries are grappling with a complex global environment, including lingering impacts from the COVID-19 pandemic, ongoing geopolitical conflicts, and escalating climate change risks.
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Despite these challenges, Africa’s economic prospects remain positive. Real gross domestic product growth is projected at 3.5 percent in 2024 and 3.6 percent in 2025, outpacing global averages of 2.9 percent and 2.4 percent, respectively, according to the United Nations.
