- Search Results
 
 
Africa’s Economic Growth Continues To Falter
Date Uploaded: Sep 29, 2016

Albert Zeufack, World Bank Chief Economist for Africa

 

Africa’s Economic Growth Continues To Falter

MONROVIA, September 29 (LINA) - After slowing to 3 percent in 2015, economic growth in Sub-Saharan Africa is expected to fall further to 1.6 percent in 2016, the lowest level in over two decades.

The sharp decline in aggregate growth reflects challenging economic conditions in the region’s largest economies and commodity exporters.

Many of these countries continue to face headwinds from low commodity prices, tight financial conditions, and domestic policy uncertainties.

Economic activity has been notably weak across oil exporters. At the same time, economic growth in about a quarter of the region’s countries is showing signs of resilience.

These latest figures are outlined in the new Africa’s Pulse, the World Bank’s twice-yearly analysis of economic trends and data for the region.

Growth is far from homogeneous, suggesting that countries are growing at divergent speeds, the report says.

While many countries are registering a sharp slippage in economic growth, some others - Ethiopia, Rwanda, and Tanzania - have continued to post annual average growth rates of over 6 percent.

Several countries, including Côte d’Ivoire and Senegal, have become top performers.

“Our analysis shows that the more resilient growth performers tend to have stronger macroeconomic policy frameworks, better business regulatory environment, more diverse structure of exports, and more effective institutions,” says Albert Zeufack, World Bank Chief Economist for Africa.
LINA PR/TSS/PTK

latest headlines
Agric Minister Wiles On Extension Services
Agriculture Minister Seklau E. Wiles says effective extension services are crucial to the development of the country's agriculture sector. ...more
Global Communities, Coca-Cola Foundation Dedicate 32 Hand Pumps
The Golden Triangle Partnership Fund under the Coca-Cola System in collaboration with Global Communities has turned over thirty-two newly-constru ...more
Health Authorities Shut 55 Mineral Water Firms
The Ministry of Health and National Public Health Institute of Liberia (NPHIL) have shut down 55 mineral water companies in Monrovia and its envi ...more
ECOWAS Network Of Elections Commissioners Visits Supreme Court
A high-power delegation from the ECOWAS Network of Elections Commissioners (ECONEC) Tuesday paid a courtesy call on the Chief Justice and Associa ...more
Supreme Court Upholds NEC's Ruling; Disqualifies Kamara
The Supreme Court has disqualified the Assistant Minister for Administration at the Ministry of Posts and Telecommunications, Abu Bana Kamara, fr ...more
Bong Citizens Recommit To Supporting VP Boakai's Bid
The leadership of Bong County has re-iterated its commitment to supporting the presidential bid of Vice President Joseph Boakai. ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency