Publication: Africa's Pulse, No. 30, October 2024: Transforming Education for Inclusive Growth
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2024-10-14
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2024-10-14
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Sub-Saharan Africa's growth recovery has resumed. Economic activity in the region is projected to grow by 3.0 percent in 2024, after bottoming out at 2.4 percent in 2023. Private consumption and investment contributions have supported the growth recovery in 2024. Growth is expected to accelerate further to 4 percent in 2025-26. However, the outlook remains uncertain despite falling global inflation and resilient global activity supporting growth in the region. Sub-Saharan Africa needs to further accelerate growth to reduce extreme poverty and enhance prosperity. GDP per capita is projected to grow by 0.5 percent in 2024 and 1.4 percent in 2025, but this expected increase would still leave the region's living standards below their level in 2014. Macroeconomic stability and human capital investments needed to achieve inclusive growth and transform the education system are vital for the region. Efforts should focus on equipping children with basic skills and providing the youth and workforce with higher-order skills. Increasing investment in education, efficient spending, and collaboration with local partners are needed to achieve universal education by 2030. Addressing these challenges will require a strong policy response to bridge the spending gap and meet education goals.
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“World Bank. 2024. Africa's Pulse, No. 30, October 2024: Transforming Education for Inclusive Growth. © World Bank. http://hdl.handle.net/10986/41999 License: CC BY 3.0 IGO.”
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