(EnergyAsia, June 4 2012, Monday) — The International Monetary Fund (IMF)  expects the economies of sub-Saharan Africa to grow by an average 5.5% this year, continuing from last year’s average 5% rise despite the uncertain global outlook.

In its 2012 Regional Economic Outlook for the region, the IMF said new resource production in Angola, Niger, and Sierra Leone will “help nudge” the region’s output growth rate to 5.5%.

Among the region’s oil producers, GDP growth is expected to reach 7% in 2012, helped by new production coming on stream in Angola and higher output levels in Chad.  Ghana’s growth will remain elevated at close to nine percent as a result of offshore oil production. The region’s other oil producing countries include Cameroon, Equatorial Guinea, Gabon, Nigeria, and the Republic of Congo.

The IMF said the region’s middle-income countries Botswana, Mauritius, and South Africa will have slower growth as they track more closely the global slowdown. Inflation is projected to moderate, most notably in countries in eastern Africa that have tightened monetary policy.

Antoinette Monsio Sayeh, Director of the IMF’s African Department, said most countries in the region shared in last year’s “solid expansion.”

“Exceptions included South Africa, slowed by weak demand from Europe, and countries in western Africa affected by drought in the Sahel and civil conflict in Côte d’Ivoire. Consumer price inflation rose, particularly in eastern Africa, sparked in part by a surge in global food and energy prices.

“Inflation is projected to moderate, most notably in countries in eastern Africa that have tightened monetary policy.

“This broadly favorable outlook is subject to clear downside risks because of global uncertainties, including the threat of renewed financial stresses in the euro area and the possibility of a surge in oil prices, triggered by geopolitical uncertainties.

“A weaker global economy would, of course, slow the pace of growth in sub-Saharan Africa. However, the resilience of the region’s economies over the course of the current global economic crisis provides confidence that solid growth can still be recorded under less favourable external conditions.”