By Helmut Reisen of Shifting Wealth Consulting and former Head of Research at the OECD Development Centre
2015 has been a challenging year for Africa. Average growth of African economies weakened in 2015 to 3.6%, down from an average annual 5% enjoyed since 2000. Total financial flows have decreased 12.8% to USD 188.8 billion, including UNCTAD estimates for foreign direct investment. Africa´s tax-GDP ratio tumbled to 17.9%, down from 18.7% in 2014.
Three core factors have underpinned Africa’sgood economic performance since the turn of the century: high commodity prices, high external financial flows, and improved policies and institutions. Now, China´s decline in investment and rebalanced growth is depressing commodity prices and producing headwinds for Africa. Such macroeconomic headwinds for net commodity exporters also imply that Africa’s second pillar of past performance — external financial inflows — have suffered as well. Click here to read the full blog
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Il faut libérer le potentiel des entrepreneurs africains pour accélérer la transformation industrielle du continent, selon les Perspectives économiques en Afrique 2017.
AfricanEconomicOutlook.org est le site web qui offre des données et des analyses complètes et comparables pour 54 économies africaines.