Africa is expected to recover from its worst recession in half a century and reach 3.4% growth this year, development finance institution the African Development Bank (AfDB) notes in its '2021 African Economic Outlook' report. The outbreak of the novel coronavirus in December 2019 has taken a massive toll on Africa, contributing to a 2.1% contraction in 2020, by hitting tourism-dependent economies, oil-exporting economies and other resource intensive economies the hardest, as well as deepening inequality, says AfDB president Dr Akinwumi Adesina.
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