The African Development Bank (INSME Member), the OECD Development Centre and the United Nations Development Programme released the 15th edition of the African Economic Outlook, analyzing Africa’s performance in areas such as macroeconomics, financing, trade policies and regional integration, human development and governance. Sustainable cities and structural transformation is also a highlight of this year’s edition that examines Africa’s path towards urbanization and the implications of such
a process in terms of allocation of economic resources.
The Outlook shows that on average Africa’s real GDP grew of 3,6% in 2015, higher than the global average. This growth rate confirms Africa as the second fastest growing economy in the world, following emerging Asia. Africa’s growth performance in the last 15 years generated several new opportunities for trade. In 2016 it is plausible to assume that the European Union will remain Africa’s main trading partner while with regard to intra-regional trade, Governments are suggested to give a more prominent role to banks in order to finance trade, boost capital market liquidity and attract new financial resources. The fast urbanization of the region additionally represents an immense opportunity for sustainable structural transformation. Implementing new policies both at national and local level for the creation of more productive jobs is key to achieve this objective.
Learn more about Africa’s performance and read the main policy issues the 54 African countries are facing at this link.