Growth in Africa to reach 3.4 pct in 2017, 4.3 pct in 2018: OECD, AfDB

FILE PHOTO: Employees work on the manufacturing line at the United Aryan Export Processing Zone textile factory in Nairobi

Employees work on the manufacturing line at the United Aryan Export Processing Zone textile factory in Nairobi, Kenya April 13, 2017. REUTERS/Baz Ratner/File Photo

The Organisation for Economic Co-operation and Development (OECD) and the African Development Bank (AfDB) expect economic growth in Africa to pick up this year and next.

Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product (GDP) to expand by 3.4 percent this year after 2.2 percent in the previous year.

For 2018, OECD and AfDB expect the upturn to gain further momentum with a predicted expansion rate of 4.3 percent.

Originally reported by Reuters.

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