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Africa's economy to strengthen in 2015 despite Ebola, oil price

The latest economic forecast for Africa is a downward revision from projections made in 2014 which suggested the region's economy would expand by 5.7 percent this yearAfrica’s overall economy should advance in 2015, expanding by 4.5 percent, showing resilience despite weak commodity prices and the devastating Ebola epidemic, an annual report published Monday said. “Africa’s gross domestic product (GDP) growth is expected to strengthen to 4.5 percent in 2015 and 5.0 percent in 2016 after subdued expansion in 2013 (of 3.5 percent) and 2014 (3.9 percent),” said the report, co-authored by the Organisation for Economic Co-operation and Development (OECD), the African Development Bank and the UN Development Programme (UNDP). The continent has so far been “relatively resilient to the sharp fall in international commodity prices,” said the report, such as crude prices which dropped more than 50 percent between June and January.

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