Forbes: Morocco, The Fourth Strongest Economy In Africa
Nigeria maintains the top spot in the ranking of the largest economies in Africa in 2021, with the International Monetary Fund (IMF) expecting the country to record a GDP of $ 514.05 billion by the end of this year, followed by Egypt, which ranks second for the second year in a row, with a GDP of $ 394.28 billion.
South Africa comes in third place with a GDP of $ 329.53 billion, followed by Algeria, with a value of $ 151.46 billion, and Morocco, with a value of $ 124 billion, bearing in mind that the gross domestic product is measured at current prices.
The GDP of the five countries – at current prices – is likely to grow by 11.8% this year to reach $ 1.5 trillion compared to $ 1.35 trillion last year, as these countries represent 58% of the total GDP of the entire continent, which will reach $ 2.6 trillion.
Last week, the IMF announced, on the sidelines of the Africa Summit in Paris, that the continent needs additional funding of $ 285 billion until 2025 to ensure an effective response to the pandemic crisis. These are the measures taken by the continent’s largest economies in accordance with international financing institutions to enhance the expected recovery from the repercussions of this year’s pandemic.