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The World Bank says African economies will experience faster this year.

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In the World Bank ts bi-annual report on Africa’s economic prospects,it was estimated that growth in sub-Sahara Africa will rise 5.2 percent this year, accelerating from the 4.9 percent expansion predicted in 2011.The estimate is slightly lower than the International Monetary Fund’s (IMF) forecast of 5.4 percent growth for 2012 published  two days ago.

World Bank’s Vice-President for Africa Dr. Obiageli Ezekwesili said African economies have continued to show resilience and some of the fastest-growing economies in the world are now in Africa. The IMF expects rising oil output in Nigeria and Angola to bolster growth in the two largest crude oil producers in Africa.

Dr. Obiageli Ezekwesili

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