Africa economic outlook 2017

Growths fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. Africa can industrialise by promoting all economic sectors that have potential for high growth and employment creation. Growth in subsaharan africa is projected to remain at 3. The governments 201719 economic program aims to reduce public debt from 76% of gdp in 2016 to 56. Africas economic outlook is promising for 2018, but there. This april 2017 issue of the regional economic outlook. Capital flows and the future of work the macroeconomic outlook for subsaharan africa continues to strengthen. Fitch ratings reduced its outlook for south africa s 2017. Real economic growth is only projected to breach the 3% level by 2020, averaging 2. Given population growth, gross domestic product gdp per capita growth has been close to nil since 2014, leaving little room to reduce poverty. African department international monetary fund november 30, 2017 regional economic outlook for subsaharan africa. Published on feb 20, 2017 goolam ballim, standard banks chief economist, discusses the year ahead for the south african economy with stephen.

In this context, the dynamics in the hydrocarbon sector triggered during the last quarter of 2016 is expected to continue, translating into higher production of oil, which is projected to progressively reach 1 million bpd by end 2017, still representing only. In 2018, growth is expected to consolidate, expanding by 4. For optimum experience we recommend to update your browser to the latest version. 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. The african economic outlook aeo celebrates its 15th edition this year. Regional economic outlook, october 2017, subsaharan africa growth in subsaharan africa has recovered relative to 2016, but the momentum is weak and per capita incomes are expected to barely increase. The outlook for 2017 is for a moderate economic recovery with real gdp projected to grow at 2. Economic fundamentals in most african countries have improved, and inflationary pressures are low or have subsided in countries with stable exchange rates. By contrast, growth rebounded in the metalsexporting. Africa s sustainable economic and social transformation is a global priority.

It provides indepth coverage of the main economic issues and the policy measures required to foster growth in each member. African economic outlook 2017 entrepreneurship and industrialisation the opinions expressed and arguments employed herein do not necessarily reflect the official views of the african development bank, its boards of directors or the countries they represent. The composition of total financial flows to africa reflects the dynamism of its. Second, strategies should include highpotential entrepreneurs. It also predicts slightly higher growth for 2019 of 3.

Excluding south africa, the continents largest economy, growth in subsaharan africa is forecast to rise to 6%. For the first time in a decade, investment accounted for more than half the continents growth. Startups and small and mediumsized firms with highpotential can complement the growth of large companies in driving africa s industrialisation. The broadbased slowdown in subsaharan africa is easing but the underlying situation remains difficult. African economic outlook is a reference website which focuses on the economics of most african countries.

The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the. We support the implementation of the african unions strategic vision at continental, regional, national and local levels by coproducing cuttingedge data and analysis with our african member states and partners, and facilitating an open dialogue on policies to accelerate that transformation. Subsaharan africa economic outlook data, statistics. It examines africas recent economic growth and prospects for 2016 and 2017 and important driving forces on the demand and the supply side. Industrial production doubled its pace of contraction in q4, as unprecedented rolling blackouts hampered mining and manufacturing activities. West africa economic outlook for 2017 africaontherise. Although the next twelve months look more promising, zambia faced economic challenges in 2016 following another year of low copper prices and crippling electricity supply deficits affecting economic activity. The economic outlook for 2017 remains cautiously optimistic largely based on the governments ability to maintain the policy and structural reform agenda as well as successfully implement the sustainable development strategy. The key driver of economic growth is the services sector, which constituted 51. Apr 06, 2020 subsaharan africa regional economic outlook.

Fiscal revenues declined by more than 50% between 2014 and 2017. Outlook and risks in gcc oil exporters, gradually improving pmis suggest recovery in the nonoil sectors. Mar 25, 2020 economic snapshot for subsaharan africa. Economic report on africa 2017 united nations economic. The major downside risks to the economic outlook include the negative impact of weather fluctuations on the rain dependent agriculture sector and the reduction in prices and global demand for commodities.

Entrepreneurship and industrialization african economic. It highlights past growth trends and projects future growth for 201718 based on prevailing global, regional and. The regions 2020 economic outlook deteriorated markedly this month owing to the intensifying coronavirus fallout and slump in commodity prices, particularly of oil. This chapter analyses recent trends in external financial flows to africa and domestic revenue collection. Dec 10, 2019 the outlook for the south african economy over the medium term is not very inspiring, despite some improvement from 2017 onwards. Growth momentum in subsaharan africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium. Apr 15, 2017 this africa s pulse newsletter includes the following the economic outlook for subsaharan africa remains robust, but growth is vulnerable to lower commodity prices and a slowdown in capital flows, the frequency and strength of growth spurts have increased, and growth has shifted the structure of african economies in favor of the resources and. The african economic outlook aeo has celebrated its 16 th edition this year. African economic outlook 2017 summary in english read online. Economic report on africa 2017 urbanization and industrialization for africas transformation despite the recent slowdown of the global economy and the weakening of africas economic performance with the attendant implications for inclusion and sustainability, the long term growth outlook for africa remains promising. This annual report examines africa s performance in crucial areas.

Jan 15, 2018 africas economic outlook is promising for 2018, but there are clouds on the horizon. Angola needs to increase investment in human capital, pursue economic diversification to reduce economic vulnerability in order to graduate to middleincome status by 2021. African governments need to integrate entrepreneurship more fully into their industrialisation strategies. Africas sustainable economic and social transformation is a global priority.

Organisation for economic cooperation and development oecd. The annual report highlights economic prospects and projections for the continent as a whole and for each of the 54 countries. Subsaharan africa reo was prepared by a team led by celine allard under the direction of david. Feb 20, 2017 goolam ballim, standard banks chief economist, discusses the year ahead for the south african economy with stephen gunnion. According to the african development banks updated forecast on the african economic outlook, the economy in 2017 compared with 2016 remains on a positive growth path and is expected to gain momentum in 2018. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. This years african economic outlook from the african development bank shows that the continents general economic performance continues to improve. Imf director for africa, mr abe selassie, discusses issues within the recent ssa economic outlook report 2017, with the main theme being fiscal consolidation and export diversification. Unlock the potential of african entrepreneurs for accelerating africas industrial transformation, says the african economic outlook 2017 ahmedabad, india, may 22, 2017 african governments need to integrate entrepreneurship more fully into their industrialisation strategies, according to the african economic outlook aeo 2017 released. South africa economy gdp, inflation, cpi and interest rate. Imf subsaharan africa economic outlook 2017 youtube.

The 2017 edition showed how including highpotential entrepreneurs in industrial policies can help african countries meet their emerging market goals and sustain them after 2030. Africa s economic growth continues to strengthen, reaching an estimated 3. The economy of africa consists of the trade, industry, agriculture, and human resources of the continent. Oecd ilibrary african economic outlook 2017 summary in. Africas economic growth continues to strengthen, reaching an estimated 3.

We support the implementation of the african union s strategic vision at continental, regional, national and local levels by coproducing cuttingedge data and analysis with our african member states and partners, and facilitating an open dialogue on policies. A weak governance environment for investors and corporations in mena may limit potential benefits from more supportive conditions. Economic report on africa 2017 urbanization and industrialization for africa s transformation despite the recent slowdown of the global economy and the weakening of africa s economic performance with the attendant implications for inclusion and sustainability, the long term growth outlook for africa remains promising. The government is raising money for a 201618 industrial program to boost agroindustry and set up an entrepreneur fund. Regional economic outlook, october 2017, subsaharan africa. The oecd economic outlook analyses the major economic trends over the coming 2 to 3 years as well as market forecasts and projections. Oct 28, 2016 mariama recaps the top headlines in african news this week, including the publication of the world banks doing business 2017 and the imfs regional economic outlook for africa reports, icc. The weo is released in april and septemberoctober each year. Published on feb 20, 2017 stephen gunnion sat down with goolam ballim, the chief economist at standard bank, to discuss his outlook on the african economy. The economic outlook for subsaharan africa ssa is positive, with growth rising to 5. After experiencing low growth due to the impact of the european and global financial crises, the economy recovered in 2016 to 3. Ulrich spiesshofer, president and chief executive officer, abb, switzerland.

It focuses on the role of innovation in fostering economic growth, job creation and poverty reduction in an environment in which more south africans are getting poorer. Data on south africa across agriculture,development,economy,education,energy,environment,finance,government,health,innovation and technology,jobs,society find, compare and share oecd data by country. Fitch ratings reduced its outlook for south africa s 2017 gdp growth to 0. The publication covered all 54 african nations, with individual country notes and corresponding statistical annexes. African economic outlook 2017 entrepreneurship and. Global economic prospects june 2017 middle east and north. Cochair of the world economic forum on africa moderated by bronwyn nielsen, editorin. East africa remains the fastest growing region, from 5.

Global economic prospects january 2018 economic outlook. This forecast would change in the event of a deteriorating global economy. The economic outlook assumes that a new functioning government is endorsed this year. The new government took office in september 2016 and has started implementing its economic reform programme that aspires to expand growth and restore budget credibility while reducing the. Fiscal consolidation through better mobilization of nonoil fiscal revenue and spending cuts reduced the budget deficit to an estimated 2. Africas growth picksup mildly, the region will accelerate to 2. Ethiopia african economic outlook 2017 undp in ethiopia.

Elsewhere in the region, activity was weak among oil producers in the central african economic and monetary community cemac, as they continued to deal with the e. It covers major macroeconomic developments in the regions countries and discusses structural issues affecting future growth, poverty, and inequality. This page has economic forecasts for south africa including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the south africa economy. Jul 24, 2017 with the mounting problems facing south africa, cnbc looks whether its economic outlook is starting to look bleak. The economy likely fell into technical recession in the fourth quarter of last year.

This annual report examines africas performance in crucial areas. Dec, 2016 macroeconomic instability fuelled by low oil prices and global economic sentiment will continue to be the main driver of business risks across west africa in 2017. While subsaharan africa remains a region with tremendous growth potential, the deterioration in the overall outlook partly reflects insufficient policy adjustment. Why south africas economic outlook is looking bleak cnbc. The world economic outlook weo database contains selected macroeconomic data series from the statistical appendix of the world economic outlook report, which presents the imf staffs analysis and projections of economic developments at the global level, in major country groups and in many individual countries. With the mounting problems facing south africa, cnbc looks whether its economic outlook is starting to look bleak.