Emerging markets such as Nigeria, Egypt, and South Africa are expected to grow twice as fast as many advanced economies by 2050. Professional services firm Price Waterhouse Coopers (PwC) has ranked these three African countries among the 32 future power economies by 2050.
PwC ranks Nigeria, Egypt and South Africa 14th, 15th, and 27th respectively among world economies by 2050. PwC’s report - “The Long View: How Will The Global Economic Order Change By 2050”, ranks the country according to what is referred to as ‘purchasing power parity’. This is a measure used by macroeconomists to determine the economic productivity and standards of living between countries across a certain time period.
BusinessInsider reports that PwC expects that South Africa, alongside Nigeria, will be one of the few countries to see a marked acceleration of annual average growth over the next few decades.
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