In its 2015 2016 global competitiveness report, the world economic forum ranked south africa 49th in its global competitiveness index out of 140 economies, up from 56th in the previous reporting period. Almost all african countries are expected to register higher growth in 2010 than in 2009. It is intended for a wide audience of policymakers, business leaders, other market participants, analysts of rwandas economy, and civil society. Africa economic outlook jeanchristophe batlle, managing director for africa. The global economic growth outlook has improved, but is clouded by policy uncertainty as. Private investment in renewable energy sector in africa. Ghana the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender.
In this regard, the federal government has developed a framework in the nigeria economic recovery and. Welcome to the fifth edition of gambling outlook 20162020. Real economic growth is only projected to breach the 3% level by 2020, averaging 2. Gross domestic product gdp of africa from 19952016 statista. A new economic report by focuseconomics paints a bleak picture for the south african economy in 2016 and 2017. This development, along with the economic potential in finding a trade route to the indian ocean, brought the portuguese to subsaharan africa as an imperial force. Following the floatation, the exchange rate displayed strong overshooting hitting its lowest rate of 19. Economic performance thus remains strongly exposed to exogenous shocks. This annual report examines africa s performance in crucial areas. Burundis economic growth contracted by an estimated 7% in 2015 due to the political. Pension assets have been growing over the last decade, reaching usd 44. Budgetary support is expected to be available again in 2017, based on commitments made by the authorities to undo the bank rescue. Developing africas workforce for the future growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports.
Global economic prospects january 2018 economic outlook for. The nonoil and gas industry accounted for no more than 5% of gdp in 2016, compared with 35% at the end of the 1980s, so the authorities are looking towards a reindustrialization of the. Structural change and poverty reduction simulations between 2006 and 2016. In 20, africa grew by about 4%, on average, compared. The outlook for the south african economy over the medium term is not very inspiring, despite some improvement from 2017 onwards. African countries, taking into account the specific economic circumstances and the productive structures of national economies. The ensuing institutional deadlock prevented parliament from meeting in 2016. The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor education.
The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the coming two years. Subsaharan africa economic outlook data, statistics. These policy instruments are underpinned by strategies and programmes, including the new partnership for african development program nepad, program for infrastructure development in africa pida and many others, which include the integrated development of africas water resources for socioeconomic development and poverty alleviation and. Africas economic performance held firm in 2015, amid global headwinds and. The regions 2020 economic outlook deteriorated markedly this month owing to the intensifying coronavirus fallout and slump in commodity prices, particularly of oil. Chart shows number of ssa countries experiencing at least one drought in any given year. Rwanda economic outlook 2016 the story behind the numbers. If there are any additions or corrections to the data published herein, they will be. Secondly, due to emerging headwinds, economic activity in kenya will encounter some speed bumps in the near to.
Contribution to population growth by city size and ruralurban interface by type. Economic outlook expectations of senior bankers in. African economic outlook oecd development centre discontinued. 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 2016 african development bank. 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. Mar 25, 2020 economic snapshot for subsaharan africa. The global outlook for economic growth is subdued, weighed down by a prolonged slump in commodity prices and slower growth in china. Sep 22, 2016 africa is now home to some of the worlds fastest growing economiesthe terms africa rising and lions on the move have both been used in recent years to capture the positive economic outlook for the continent. The annual african economic outlook aeo monitors the continents state of affairs using a.
African communitys eac goal of regional integration. Subsaharan africa reo was prepared by a team led by celine. Indeed, a number of african countries rank well above popular investment. While the rest of the worlds economy grew at an annual rate of close to 2 percent from 1960 to 2002, growth performance in africa has been dismal. Burundis economic growth contracted by an estimated 7% in. Disposable incomes were helped by steady wages, tax cuts, stock market gains and higher farm incomes. It highlights basic program data for the social security retirement, survivors, and disability and supplemental security income programs. Africas economic growth european parliament european union. The june 2019 quarterly employment survey, released by statistics south africa, showed that an estimated 10 172 000 people were employed in the formal nonagricultural sector of the south african economy, which is down by 2 000 from the 10 174 000 recorded in the previous quarter. Apr 24, 2014 gross domestic product gdp of africa from 19952016. African economic outlook 2017 entrepreneurship and.
It ranked the country first for strength of auditing and reporting standards as well as financing through local equity market. The african development bank group is a regional multilateral development finance institution the members of which are all of the 53 countries in africa and 24 countries from asia, europe, north and south america. Industrial production doubled its pace of contraction in q4, as unprecedented rolling blackouts hampered mining and manufacturing activities. Unless otherwise noted, data and projections presented in this regional economic outlook are imf staff estimates as of 25 march, 2016, consistent with the projections underlying the april 2016 world economic outlook. Commodity prices are expected to stabilize but remain low through 2017 figure 2. Regional growth should recover slightly this year on a favourable base effect. This annual report examines africas performance in crucial areas. 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. The economy likely fell into technical recession in the fourth quarter of last year. The data and projections cover 45 subsaharan african countries in the imf.
This chapter analyses recent trends in external financial flows to africa and domestic revenue collection. Growth prospects will be driven by moderately stronger global growth, more favorable weather conditions, reliable electricity supply, less volatile labor relations, recovering business and consumer confidence, and stabilizing commodity prices. Statistics in this section you can download all statistical tables of african economic outlook 2017 in excel formats. The report, which forecasts the outlook for subsaharan africa in. African development bank launches the 2018 edition of the.
Despite the delicate political context, gross domestic product gdp grew by an estimated 4. The african development bank is launching the 2018 edition of its yearly flagship report, the african economic outlook aeo, on wednesday, january 17. This number could reach a projected 128 million by 2020. Gross domestic product gdp of africa from 19952016. Only private investment in renewable energy can play a major role in filling this gap. 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. In july 2016, the government adopted a new economic growth plan 2016 30 focusing on the private sector and a three year budget stabilization strategy. South africa economy gdp, inflation, cpi and interest rate. South africas economy could sink to number three in africa. In 2018, the drc emerged from the economic recession triggered by the decline in the global prices of its main export commodities between 2015 and mid2017. Those participating in the meeting were raphael otieno, director, macroeconomic and financial management institute of eastern.
Economic outlook for africa banking on tomorrow conference september, 2017. This publication focuses on segments within the south african gambling industry, with detailed forecasts and analysis. Africa s general economic performance continues to improve, with gross domestic product growth reaching an estimated 3. 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. African public investment is a share of gdp increased until 2014 in contrast to other ems, which saw a. The 2016 budget has been prepared in a very tough economic environment. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the. Assuming the full implementation of a comprehensive reform agenda following the autumn 2016 parliamentary elections, economic growth could accelerate and sustainably exceed 3. African economic outlook 2016 sustainable cities and. The report is published by the oecd development centre, the african development bank, the united nations development programme. Jan 23, 2020 this statistic shows the distribution of the gross domestic product gdp across economic sectors in south africa from 2008 to 2018. Link global economic outlook 20152016 united nations. Although growth rebounded in angola, nigeria, and south africathe regions largest.
The first such report focused on south asia, the second examined east. Upper middleincome countries turned in low and declining rates of growth. Looking forward, african economic growth is projected to accelerate to 4percent in 2019. 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. Smes outlook on the state of the economy industries in 6 months 20162018. Investment losses resulting from the financial crisis have been recouped in almost all. Countries should better leverage public funds and infrastructure investments, while encouraging private sector participation. Economic overview in brief the south african economy, which grew by an estimated 0. Jan 20, 2016 economic outlook paints a mixed picture for the african region, with clear differences between northern africa and subsaharan africa signs of economic recovery are surfacing in northern africa, although security and political factors continue to weigh on growth. The growth momentum was however challenged by high inflation, largely fuelled by food inflation annex figure a. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years.
The sarbs growth estimates are moderately higher than those of the imf for 2016 and 2017, though for the following year, the two forecasts converge. This report presents the continents current state of affairs and forecasts its situation for the coming two years. This th edition of the african economic outlook underscores the continents resilience to regional and global headwinds. This web page provides information on the activities of the office, views of the imf staff, and the relations between ethiopia and the imf. For the first time in a decade, investment accounted for more than half the continents growth, with private consumption accounting for less than. The economy continued to expand, growing at a rate of 4. Additional information can be found on the ethiopia and imf country page, including official imf reports and executive board documents in english that deal with ethiopia. Moroccos economic outlook spring 2016 the latest mena economic monitor report spring 2016, expects moroccos growth to slow down to 1.
The economic decline in africa one half of the african continent lives below the poverty line. The meeting brought together specialists in african debt and development finance. Economic outlook 2016 5 gdp according to the bmi, burundi will post an economic growth of 1. President paul kagame, has been given permission in a national referendum to stand for a third term in august 2017, and he is expected to win a large majority. Africas sustainable economic and social transformation is a global priority. In its world economic outlook report issued at the end of october, the imf projected south africas gdp would expand by 0. Burundi economic outlook 2016 the story behind the numbers. Recent growth has been due to growth in sales in commodities, services, and. The african economic outlookhas become a vital source of detailed analysis of african economies. The coordination and supervision of the preparation of. Facing the growing unemployment challenges in africa. This years outlook offers new and timely analytics to show how african economies are integrat ing, how regional public goods are moving integration beyond the purely economic domain, and how the continental free trade agreement can generate substantial gains for all african countries. Economic outlook expectations of senior bankers in europe 2014.
By applying swot analysis, this study illustrates the major threats and weaknesses challenges faced by the private investment in renewable energy sector in africa visavis the main opportunities and strengths benefits these investments can get. Additionally, 2016 saw a freeze on budgetary support from donors due to a secretive bank rescue by the authorities in 2015, at a cost of xof 34. In this regard, the federal government has developed a framework in the nigeria economic recovery and growth plan 201720. African economic outlook is an annual reference bookjournal which focuses on the economics of most african countries. This april 2016 issue of the regional economic outlook.
Data for 2015 are ssa calculations from the march 2016 annual social and economic supplement to. There is a pronounced slowdown in developing countries, with some in deep recession. Some parts of africa had close trade relationships with arab kingdoms, and by the time of the ottoman empire, africans had begun converting to islam in large numbers. In 2016, private pension assets reached their highestever level at over usd 38 trillion in oecd countries. The kenya economic outlook 2016 report provides an overview of kenyas economic environment and key. This trend is attributable to positive real net returns over the long term, and to increased contributions paid as more people are being covered by a pension plan in a number of countries, especially in those with recent mandatory or auto. Debt dynamics and development finance in africa, was prepared by a team of unctad contributors, headed by junior roy davis, and composed of the following people. In subsaharan africa, per capita gdp is now less than it was in 1974, having declined over 11 percent. The landscape for impact investing in west africa is the third in a series of regional market landscaping studies published by the global impact investing network giin that seek to address the lack of data available on impact investing in emerging economies. Subsaharan africa is published twice a year, in the. Yannis arvanitis at african development bank group.
However, economic activity will still be weak due to ongoing recession in iran and the impact of the coronavirus. Gdpe includes data on household and government spending, capital investment, and. The 12 th edition of the south africa economic update. Subsaharan africa multispeed growth international monetary fund.