AFRICA (African nations are set to see minimal, or in some cases, negative GDP growth in the 2nd Q of 2022)
Africa was a big importer of wheat and barley from Ukraine and Russia. With these products currently unavailable because of the ongoing war, prices have already started to rise. Experts are indicating that there will be a serious food shortage that will cause problems for many African nations.
Africa contains hundreds of millions of citizens that have not yet been vaccinated; this is a major issue that still needs to be resolved.
The African economies and construction sector could be severely impacted by the ongoing war in Ukraine. It is difficult to forecast both the short-term and long-term impact on the 50+ African countries.