Africa'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 yesterday said. And future growth could be spurred by the continent's population doubling to two billion over the next 35 years, repeating in Africa the economic boom seen in Asia's biggest countries. "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 latest continental predictions in the OECD-led report are in line with the International Monetary Fund's projections of 4.5 percent in 2015, but are slightly more optimistic than the World Bank's forecast of 4.0 percent.
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