A new report, launched Sept. 26 in Addis Ababa, Ethiopia, indicates that African economic growth has been resilient amidst global economic downturns and regional crises.
The 2013 African Economic Outlook Report (AEO), sponsored by the African Development Bank (AfDB) and the Organization for Economic Cooperation and Development (OECD), examines Africa’s current growth and highlights room for development in the realm of natural resources.
With a priority theme entitled “Structural Transformation and Natural Resources,” the Report indicates that Africa’s economic growth was 4.2 percent in 2012 and is projected to accelerate to 4.5 percent in 2013 and further to 5.2 percent in 2014. The AEO recommends that in light of continent-wide economic growth, harnessing Africa’s strong natural resource sector is of greater importance now more than ever in order to catalyze structural transformation.
“The general intended audience for the AEO 2013 Report is academics, civil society leaders, and governments as a basis to help them make informed decisions,” explains Steve Kayizzi-Mugerwa, Director of Development Research at AfDB, to MediaGlobal News.
“Governments like the fact that it is a tool that has been generated by Africans in collaboration with others instead of relying solely on multilateral organizations.”
According to the United Nations Economic Commission for Africa (UNECA), “the main sources of …
Source: AllAfrica News: Africa