Growth forecasts for the Sub-Saharan African economies are expected to be 0.1 percentage points this year and in 2023, according to the International Monetary Fund (IMF), which also predicts growth of 3.7 and 4.0 in those years, respectively.

The World Economic Outlook report, presented on Tuesday in Washington, stresses that the economies south of the Sahara will experience a slight decline, after a 4% expansion in 2021 and a 1.7% contraction the previous year, the newspaper Notícias reports.

The report only specifies the two largest economies in the region, and states that Nigeria is expected to grow by 2.7% in 2022 and 2023, and South Africa will be 1.9 in 2022 and 1.4 in 2023, both below average. Later this year, Nigeria and South Africa are expected to see a reduction in economic growth by 0.3 percentage points from the forecasts made in October 20221.

The IMF still forecasts that the world economy will grow by 0.5 percentage points to 4.4%, the newspaper reports.

"Global growth is estimated at 5.9% 3m 2021 and should moderate to 4.4% in 2022, half a percentage point lower than the October 2021 Economic Forecast," the IMF says.

The revision reflects the impact of mobility restrictions, border closures, and the effect on health due to the omicron variant, although the weight will differ by nation.

The greatest effects will be felt in the first quarter of the year and "the negative impact should fade from the second quarter onwards" with the expectation of a reduction in omicron cases.