For the first time in a decade, investment accounted for more than half the continents growth, with private consumption accounting for less than. The imfs subsaharan africa regional economic outlook says subsaharan africa is set to enjoy a modest growth uptick, and decisive policies are needed to both reduce vulnerabilities and raise mediumterm growth prospects. For the first time in a decade, investment accounted for more than half the continents growth. Subsaharan africas opportunities are vast, and its challenges persistent. Local economic development in subsaharan africa article in environment and planning c government and policy 254. Subsaharan africa while the economy of subsaharan africa1 ssa shrank by 1. Sustaining growth amid global uncertainty dr isabella massa overseas development institute 31 may 2012, london. Science and technology for development in subsaharan africa. As we report in our latest regional economic outlook, output in subsaharan africa looks set to expand by around 5. Since 2012, the muslim education and welfare association mewa in the. O economic development, innovation, technological change, and growth o4.
Yet, subsaharan africa continues to perform strongly, with economic growth expected to exceed 5 percent this year and next. Science and technology for development in subsaharan. Subsaharan africa sustaining growth amid global uncertainty by international monetary fund. But economic growth has not led to significant reduction of poverty, which remains a major. Unless otherwise noted, data and projections presented in this regional economic outlook are imf staff estimates as of september 7, 2012, consistent with the projections underlying the october 2012 world economic outlook. Challenges and opportunities this note has been prepared as a background note for the 1818 society presentation of 20 february 2014 on the above topic. The nearterm outlook for the region remains broadly positive, and growth is projected at 514 percent a year in 2012. Domestic revenue mobilization and private investment on may 22, 2018, the wilson center africa program cohosted a panel discussion about the april 2018 regional economic outlook for subsaharan africa report with the international monetary fund imf.
Local economic development in subsaharan africa request pdf. Most lowincome countries are projected to continue to grow strongly, supported by domestic demand, including from investment. On june 9, imf african department director antoinette sayeh presented the imfs regional economic outlook for sub saharan africa, which argues that the regions mediumterm prospects remain. Economic activity remains strong in much of subsaharan africa, underpinned by robust domestic demand.
Regional agenda world economic forum on africa overview. African economic outlook 2012 african development bank. Head of the strategic advisory unit, regional bureau for africa, undp and emmanuel nnadozie. Subsaharan africa is one of the fastest growing regions in the world. The ssa region is a leading market for south african exports, particularly manufactured goods, and provides opportunities for the development of regional value chains. Regional economic outlook for sub saharan africa ssa mumtaz hussain african department international monetary fund october 2016 the parliamentary network on the world bank and international monetary fund, october 2016. This is an important question that the latest edition of the regional economic outlook for sub saharan africa takes a stab at. Regional economic outlook for sub saharan africa ssa. Growth in sub saharan africa is projected to remain at 3. Subsaharan africa trade and investment introduction in june 2012, the white house issued the u. Yet, sub saharan africa continues to perform strongly, with economic growth expected to exceed 5 percent this year and next.
Home to the worlds largest free trade area and a 1. The meeting will convene regional and global leaders from business, government and civil society to explore solutions to create economic opportunities for all. In its january 2015 world economic outlook update, the international monetary fund imf trimmed its forecasts for growth in subsaharan africa for 2015 and 2016 by. African economic outlook 2016 algeria angola benin botswana. Financial development and economic growth in subsaharan. Subsaharan africa continues to record strong economic growth, despite the weaker global economic environment. Meeting subsaharan africas frontier market financing. This october 2011 issue of the regional economic outlook. Lighting rwanda r wandas power sector has grown rapidly in the past decade and outpaced many of its peers in subsaharan africa.
In 2015, sub saharan africa excluding south africa. This resilience was already in evidence 200809, when the global economy experienced its deepest recession since the 1930s, while notably lowincome countries fared much better than they had during past global downturns. Subsaharan africa reo was prepared by a team led by celine allard under the direction of abebe aemro selassie. If youre looking for a free download links of regional economic outlook, april 2012. Regional economic outlook for subsaharan africa the new. This april 2016 issue of the regional economic outlook. May 22, 2018 regional economic outlook for sub saharan africa.
The economy of africa consists of the trade, industry, agriculture, and human resources of the. On june 14, 2016, the brookings tsinghua center hosted a public lecture on regional economic outlook on subsaharan africa, featuring roger nord, deputy director of the imfs african depar. Subsaharan africa, october 2009 by international monetary fund. Strategy toward subsaharan africa, committing the united states to elevating efforts to strengthen democratic institutions and spur economic growth, trade, and investment in the region. The note includes, as an attachment, a paper written by letitia obeng and praful patel. Development financing in africa united nations economic. Mevel and karingi 2012 estimate that the removal of all tariff barriers within the. Over the past decade, regional integration in subsaharan africa ssa has expanded. Reo regional economic outlook sdds special data dissemination standard ssa subsaharan africa ssafm subsaharan africa frontier market tfp total factor productivity uneca united nations economic commission for africa vix chicago board options exchange market volatility index waemu west african economic and monetary union.
Drivers and barriers for private finance in subsaharan africa unep report. Subsaharan africa has been hit hard by the global recession, but signs of resilience remain. Epidemiology of hiv and viral hepatitis, and harm reduction responses in subsaharan africa. Growth in subsaharan africa moderated to a slowerthanexpected 2. The team included francisco arizala, wenjie chen, larry qiang cui, jesus gonzalezgarcia. Jun, 2016 on june 9, imf african department director antoinette sayeh presented the imfs regional economic outlook for sub saharan africa, which argues that the regions mediumterm prospects remain. Most lowincome countries are projected to continue to grow strongly, supported by domestic demand, including from. Subsaharan africa reo was prepared by a team led by alfredo cuevas and montfort mlachila.
Reo regional economic outlook sdds special data dissemination standard ssa sub saharan africa ssafm sub saharan africa frontier market tfp total factor productivity uneca united nations economic commission for africa vix chicago board options exchange market volatility index waemu west african economic and monetary union. World economic outlook imf regional economic outlook. Developing africas workforce for the future growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. The nearterm outlook for the region remains broadly positive, and growth is projected at 5 percent a year in 2012. Economic conditions in subsaharan africa have remained generally robust despite a sluggish global economy. The programme started in 2012 in south east asia and the pacific, and reports are available online at. This is an important question that the latest edition of the regional economic outlook for subsaharan africa takes a stab at. This october 2012 issue of the regional economic outlook. May 2018 imf regional economic outlook for subsaharan africa. These region wide numbers mask considerable differences in the growth performance and prospects of countries across the region.
Regional economic outlook for subsaharan africa ssa mumtaz hussain african department international monetary fund october 2016 the parliamentary network on the world bank and international monetary fund, october 2016. Regional economic outlook subsaharan africa tralac. Sub saharan africa continues to record strong economic growth, despite the weaker global economic environment. The imfs regional economic outlook for subsaharan africa says economic growth in the region is projected to pick up from 2. Despite the global economic slowdown in 2012, growth in subsaharan africa has remained robust, supported by resilient domestic demand and still relatively high commodity prices. Sub saharan africa while the economy of sub saharan africa1 ssa shrank by 1. Subsaharan africa experienced protracted economic stagnation from 1975 to 1995. Subsaharan africa, maintaining growth in an uncertain world, world economic and. The economic recovery in sub saharan africa continues. Unless otherwise noted, data and projections presented in this regional economic outlook are imf staff estimates as of september 7, 2012, consistent with the projections underlying the october 2012 world economic outlook the data and projections cover 45 countries in subsaharan africa covered by the imfs african department. The international monetary fund predicts that this growth will only acceleratereaching around 5.
Regional output rose by 5 percent in 2011, with growth set to increase slightly in 2012, helped by stillstrong commodity prices, new resource exploitation, and the improved domestic conditions that have underpinned several years of. Good macroeconomic policies in many more countries the years before the crisis put them in good stead to weather the crisis relatively well. Regional economic outlook, april 2012, subsaharan africa. In partnership with the government of the republic of south africa, the world economic forum on africa will be held in durban, south africa, on 35 may 2017. The organisation considers africa a crucial partner to strengthen global governance and achieve the sustainable development goals. The expected recovery, however, is at a slower pace than previously envisaged for about twothirds of the countries in the region, partly due to a challenging external environment. The economic outlook for subsaharan africa ssa is positive, with growth rising to 5. Sustaining growth amid global uncertainty dr isabella massa overseas development institute 31 may 2012, london threats to the ssa outlook include the risk of. Regional bureau for africa, undp and emmanuel nnadozie. Sub saharan africa sustaining growth amid global uncertainty by international monetary fund. An energizing development for imf staff working on subsaharan africa ssa over the past decade was the regions clear growth uptick and progress in reducing poverty relative to earlier periods. This box was prepared by gerard kambou and jesper hanson, with contributions from raju huidrom.
Regional growth is set to pick up from 3 percent in 2018 to 3. Subsaharan africa is published twice a year, in the. The team included francisco arizala, mounir bari, marlon francisco, jesus gonzalezgarcia, cleary haines. African economic outlook 2012 executive summary part one. 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. Strategy toward sub saharan africa, committing the united states to elevating efforts to strengthen democratic institutions and spur economic growth, trade, and investment in the region. The economic outlook for the region is positive, although the region is vulnerable to both a sharp. About half of the regions countries mostly nonresource. Subsaharan africa imf economic and financial policy agenda of the government of the gambia for 20122014 pdf, 616kb united nations data and trade profile financing renewable energy in developing countries.
Regional economic outlook, october 2012, subsaharan. Mobile phone innovation and inclusive human development. Economic conditions in sub saharan africa have remained generally robust despite a sluggish global economy. Subsaharan africa french edition pdf, epub, docx and torrent then this site is not for you. The afrreo fall 2018 database is in turn based on the statistical appendix of the regional economic outlook sub saharan africa of the fall 2018 world economic outlook weo. Growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. Sub saharan africa reo was prepared by a team led by celine allard under the direction of abebe aemro selassie.
The data and projections cover 45 countries in subsaharan africa covered by the imfs african department. This october 2016 issue of the regional economic outlook. The study aims to determine the relationship between financial development and economic growth with respect to the state of institutional quality on 27 subsaharan africa countries using a fiveyear averaged dataset over the period 19822016. Excluding south africa, the continents largest economy, growth in subsaharan africa is forecast to rise to 6%. Global economic prospects january 20 subsaharan africa annex. This forecast would change in the event of a deteriorating global economy. Regional output rose by 5 percent in 2011, with growth set to increase slightly in 2012, helped by stillstrong commodity prices, new resource exploitation, and the improved domestic conditions that have underpinned several years of solid trend growth in the regions lowincome. Domestic revenue mobilization and private investment on may 22, 2018, the wilson center africa program cohosted a panel discussion about the april 2018 regional economic outlook for sub saharan africa report with the international monetary fund imf. The afrreo fall 2018 database is in turn based on the statistical appendix of the regional economic outlook subsaharan africa of the fall 2018 world economic outlook weo. Regional economic outlook, october 2012, subsaharan africa. A number of african countries graduated to lower middleincome country mic status and became frontier economies. Subsaharan africa building momentum in a multispeed world. It is well known by now that growth in sub saharan africa for the past 15 years or so has on average been quite strong. Though still low, intraregional trade represents a growing share of the regions trade.
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