etradingnetwork/about.html African Economic Outlook 2014 This 13th edition of the African Economic Outlook underscores the continent’s resilience to regional and global headwinds. In 2013, Africa grew by about 4%, on average, compared to 3% for the global economy, although with broad variations across regions and income groupings. Growth in sub-Saharan Africa was 5% in 2013 and is projected to be about 5.8% in 2014. Excluding South Africa, the figures are 6.1% and 6.8%, respectively. East and West Africa recorded the fastest pace of expansion, above 6%. Low-income countries also recorded growth of above 6%, and the upper-middle-income countries in North and Southern Africa at below 3%. Africa’s medium-term growth prospects have improved, on the back of broader political and social stability at home and recovering economic conditions abroad. In some countries and regions, growth is projected to return to levels last seen before the onset of the 2009 global recession. External financial flows are expected to surpass USD 200 billion in 2014, four times their 2000 level. Foreign investment – direct and portfolio – has now fully recovered from the effects of the crisis and is projected to reach a record USD 80 billion in 2014, with manufacturing and services attracting an increasing share of the continent’s greenfield projects. Poverty levels are falling, and education and health outcomes are improving. Source Information: africaneconomicoutlook.org/fileadmin/uploads/aeo/2014/PDF/E-Book_African_Economic_Outlook_2014.pdf
Posted on: Sun, 11 Jan 2015 22:15:07 +0000