- Washington “follows with interest” Morocco’s openness onto Africa (John Kerry)Posted 11 years ago
- The trial of South African Paralympic champion Oscar Pistorius opened in Pretoria on Monday.Posted 11 years ago
- USA welcomes efforts of King Mohammed VI in MaliPosted 11 years ago
- Egypt’s population reaches 94 millionPosted 11 years ago
- Mugabe celebrates his 90thPosted 11 years ago
- Moroccan Monarch to Build a Perinatal Clinic in BamakoPosted 11 years ago
- King Mohammed VI handed a donation of bovine semen for the benefit of Malian breeders.Posted 11 years ago
- Moroccan King’s strategic tour to Africa: Strengthening the will of pan African Solidarity and stimulating the south-south cooperation mechanisms over the continentPosted 12 years ago
- Senior al-Qaida leader killed in AlgeriaPosted 12 years ago
- Libya: The trial of former Prime Minister al-Baghdadi AliPosted 12 years ago
African Growth to Slow to 3.7 pc this Year
Growth in African countries will to slow to 3.7 percent this year owing to upheavals in northern Africa and increased food and fuel prices, the latest African Economic Outlook report say, pointing to a rally in 2012. Africa should benefit from the arrival of investment from emerging countries on the continent.
But the regions in Africa should also increase their integration to have a stronger position towards trading partners and notably emerging economies, the report say.
Last year China became the biggest trading partner for Africa, displacing the United States.
Africa had to attract investment into more diversified sectors than oil, and generating more added value, in order to boost growth.
The report notes that Africa had posted a strong rebound of 4.9 pc growth last year, but warned “Africa is marching into serious headwinds, notably caused by high food and fuel prices and political upheavals in a number of countries.”
The report, compiled by the Organization for Economic Cooperation and Development, the African Development Bank, UN Development Program and UN Economic Commission for Africa, forecast growth to recover to 5.8 pc next year.
It says that growth in north Africa will slow this year to less than one pc from 4.6 pc in 2010, because of the unrest in Libya and economic disturbances from the regime changes in Egypt and Tunisia.