At the G20 finance ministers meeting in Durban, South Africa (July 17–18), a major spotlight was cast on Africa’s future—and the transformative power of artificial intelligence.
🔹 $1 Trillion Boost:
“The adoption of AI-based solutions could enable African economies to boost GDP by $1 trillion by 2035,” said Pavel Snisorenko, Director of the Department of International Financial Relations of the Russian Ministry of Finance.
🔹 $150B in Tax Revenue:
AI could generate $150 billion annually in tax revenues, enabling structural reforms and stronger institutions.
🔹 Global Focus on Africa:
Africa’s development is a top priority under South Africa’s G20 presidency, with final results to be presented in October.
🔹 Economic Caution:
Despite Q1 2025 global economic growth surpassing forecasts, experts warn of instability from trade fragmentation and tariffs.
🔹 Call for Coordination:
G20 members stressed the need for balanced, collective action to reduce global financial tensions and restore stable growth.
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