Broadbased economic activity is expected to recover at a slow pace, but the outlook remains modest, given the diverging growth patterns for the regions economies. This is likely to create disruption in transportation, crossborder trade and investments, supply chains and tourism in the west africa region if the ebola outbreak is contained, we can expect more fdi investments from europe, more specifically french multinational. Director economic affairs, commission of the african union 2. Addressing the 2016 mediumterm budget policy statement, dubbed the mini budget, finance minister pravin gordhan announced that the treasury had revised south africas economic growth from 0. Second, improved revenues should give governments in the region, especially algeria, egypt, libya, and tunisia, the opportunity t his north africa economic outlook covering algeria, egypt, libya, mauritania, morocco. The economic outlook for the southern africa region is cautious. Aug 08, 2017 the african economic outlook aeo 2017 which was published on monday 22 may 2017 by the african development bank indicates that rwanda recorded the most progress in africa in the fight against poverty since 2005, followed by ghana and liberia.
Commodity prices are expected to stabilize but remain low through 2017 figure 2. Since the northern hemisphere summer of 2016, there has been a worldwide economic upturn. They thus provide the financial resources to do everything else. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years. Middle east and north africa regional economic outlook.
Almost all african countries are expected to register higher growth in 2010 than in 2009. The opinions expressed and arguments employed herein do not necessarily reflect the official views of. The african economic outlook aeo 2017 african development. Economic overview in brief the south african economy, which grew by an estimated 0. Africas sustainable economic and social transformation is a global priority. Nine years ago, when the african economic outlook project began, the world was in the midst of what seemed to be a robust growth path. Middle east and north africa regional economic outlook april 25, 2016. Learn indepth about south africas economic prospects and challenges for the year ahead.
The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the coming two years. Attract more private funding to infrastructure projects, focusing on risk. South africa economy gdp, inflation, cpi and interest rate. However, policy uncertainty, especially from the us, could upset the benign outlook. The global economic growth outlook has improved, but is clouded by policy uncertainty as. The report, which forecasts the outlook for subsaharan africa in. Government debt indicators continued to deteriorate in the region in 2017, with the median debttogdp ratio rising to 53 percent from 48 percent in 2016. African economic outlook 2016 algeria angola benin botswana burkina faso burundi cabo verde cameroon central african republic chad comoros congo congo, dem. This is the first period of synchronous global growth since the initial recovery from the global financial crisis in 2009. Nigerias economic recovery defining the path for economic growth. African economic outlook how is african economic outlook. Upper middleincome countries turned in low and declining rates of growth. Dec 24, 2014 if the ebola outbreak is protracted or spreads, it will have dramatic consequences for economic activity in western africa.
The focus is on the expected mediumterm business cycle, while also analysing structural changes and emerging trends in the economy. Investors perception is positive for the next 3 years. The annual african economic outlook aeo monitors the continents state of affairs. The economy of africa consists of the trade, industry, agriculture, and human resources of the. Africa economic outlook jeanchristophe batlle, managing director for africa julien marcilly. Global economic momentum, which began picking up in h2 of 2016, will push growth rates higher in 2017 and 2018. Africas economic growth european parliament european union. African economic outlook is an annual reference bookjournal which focuses on the economics of most african countries. The areas gross domestic product will probably expand 2. Into africa, focuses on the african economic outlook in 2016. Jan 17, 2016 a new economic report by focuseconomics paints a bleak picture for the south african economy in 2016 and 2017. African economic outlook 2012 african development bank. Cote divoire djibouti egypt equatorial guinea eritrea ethiopia gabon gambia ghana guinea guineabissau kenya lesotho liberia libya madagascar malawi mali mauritania mauritius. Growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports.
The issue briefing room is located in the media village. The situation improved in 2016 due to recessionno growth in many major countries net fdi flows, at around 2% of regional gdp in 201516, are not enough to cover the external deficit large external deficits due to commodities drop source. This years african economic outlook examines recent macroeconomic developments and. Mobilize domestic resources through welltargeted subsidies and rigorous collection of fees through the application of icts. Subsaharan africa is published twice a year, in the. On june 9, imf african department director antoinette sayeh presented the imfs regional economic outlook for subsaharan africa, which argues that the regions mediumterm prospects remain. South africas economic growth outlook revised from 0. Makhtar diop, vicepresident, africa, world bank, washington dc. Minister gordhan delivered the most crucial mediumterm budget in his political career. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme. Address the infrastructure deficit in special economic zones and industrial parks. Country risk 2016 assessment 2014 2015 business climate. Donald kaberuka, president, african development bank group, tunis angel gurria, secretarygeneral, organisation for cooperation and development, paris abdoulie janneh, executive secretary, united nations economic.
China economic outlook first quarter 2016 a global outlook of anae 2 mic and more fragile growth the intensification during the last quarter of 2015 of some of the risk clusters with a global impact led to a further downward revision of world economic growth forecasts for this year. When productive, they contribute to and sustain a countrys economic growth. African economic outlook oecd development centre discontinued. Industrial production doubled its pace of contraction in q4, as unprecedented rolling blackouts hampered mining and manufacturing activities. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme undp. However, since the last quarter of 2016 growth as slowed moderately with a full year growth expectation of 6. If the ebola outbreak is protracted or spreads, it will have dramatic consequences for economic activity in western africa. The african economic outlook aeo 2017 which was published on monday 22 may 2017 by the african development bank indicates that rwanda recorded the most progress in africa in the fight against poverty since 2005, followed by ghana and liberia. Assuming the full implementation of a comprehensive reform agenda following the autumn 2016 parliamentary elections, economic growth could accelerate and sustainably exceed 3.
Economic freedom measures the extent to which government policies and institutions enhance the ease of doing business, security and fair competition in a country. The data and projections cover 45 subsaharan african countries in the imfs african department. African economic outlook 2018 indiaenvironmentportal. There were bumps, of course, but the general trend was upwards and the interruptions were relatively localised and shortlived. Global economic outlook in january of this year the international monetary fund imf lowered its 2016 projection for global economic growth from 3. The first hint of spring is in the air leaving this economic outlook in a position of cautious optimism. The end of the drought should see a massive rebound in agricultural production. Bouncing back from a weak economic performance in 2016 responding to policy uncertainty in the us, europe and china preparing for threat of. South africas economic outlook deteriorates 18 april 2017. Second, improved revenues should give governments in the region, especially algeria, egypt, libya, and tunisia, the opportunity t his north africa economic outlook.
Political stability and sound macroeconomic management continue to promote investor confidence. In this regard, the federal government has developed a framework in the nigeria economic recovery and growth plan 201720. Victor harison commissioner for economic affairs, commission of the african union dr. Global economic prospects january 2018 economic outlook. The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the. Nigerias economic recovery defining the path for economic.
May 09, 2017 the areas gross domestic product will probably expand 2. We support the implementation of the african unions strategic vision at continental, regional, national and local levels by coproducing cuttingedge data and analysis with our african member states and partners, and facilitating an open dialogue on policies to accelerate that transformation. Nigeria economy gdp, inflation, cpi and interest rate. Increased engagement with the private sector can help to identify and address impediments to growth. North africa economic outlook 2018 indiaenvironmentportal. Dec 10, 2019 economic outlook detailed biannual forecast report of the south african economy for the coming 56 years. Economic predictions can sometimes be guess work or very subjective so, for a balanced view, we interviewed 5 leading africa focused economists and analysts from african and global banking giants to give their views on the economic outlook for africa in 2016. Keeping the balance in a deflationary period 14 global financial markets outlook. China economic outlook first quarter 2016 a global outlook of anae 2 mic and more fragile growth the intensification during the last quarter of 2015 of some of the risk clusters with a global impact led to a further downward revision of world economic growth forecasts for. As the outlook concludes, infrastructure projects are among the most profitable investments any society can make.
Structural change and poverty reduction simulations between 2006 and 2016. Economic outlook no 95 may 2014 longterm baseline projections. A new economic report by focuseconomics paints a bleak picture for the south african economy in 2016 and 2017. The report, which forecasts the outlook for subsaharan africa in 2016 and 2017. In the last quarter of 2016, the current account deficit was 1. African economic outlook how is african economic outlook abbreviated. In 2016, the emerging common african position on urban development and the. Growth appeared to gather pace somewhat in the final quarter of 2019, after quickening activity in both the agricultural and industrial sectors propped up a modest expansion in the third quarter. Moroccos economic outlook spring 2016 the latest mena economic monitor report spring 2016, expects moroccos growth to slow down to 1. The annual report african economic outlook published by the african development bank afdb, the oecd development center and the united nations in 2017 shows that with a vibrant private sector, entrepreneurship and vast resources, africa has the potential to grow faster and in a more inclusive way. The economy likely fell into technical recession in the fourth quarter of last year. By 2016, the economy recorded its first recession and production volumes.
Sub saharan africa faces a challenging nearterm outlook. The pace of economic growth was moderate in 2016, with the economy growing by 3. The african economic outlook aeo celebrates its 15th edition this year. African economic outlook 2016 sustainable cities and. Africa economic outlook jeanchristophe batlle, managing director for africa. Economic activity is slowing as the public purse is tightened. Africas economic outlook for 2015 how we made it in africa. Imf world economic outlook, world bank development indicator, thomson reuters datastream.
Economic outlook detailed biannual forecast report of the south african economy for the coming 56 years. This page has economic forecasts for south africa including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the south africa economy. African economic outlook 2017 entrepreneurship and. Allan gray south africas economic outlook deteriorates. The ninth edition of the african economic outlook portrays a continent that is slowly emerging from the lingering effects of the worlds deepest and most widespread economic crisis in half a century. African economic outlook 2018 african development bank. African economic outlook 2018 african economic outlook. This annual report examines africa s performance in crucial areas. Security is a prerequisite for economic growth in countries affected by conflict.
The african economic outlook was prepared by a consortium of four teams from the african development bank afdb, the oecd development centre, the united nations development programme undp and the united nations economic commission for africa uneca. Imf sees subdued growth outlook for subsaharan africa. This annual report examines africas performance in crucial areas. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations. Government debt rose further in south africa, owing to.
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