African Economic Outlook 2013

Stock.xchngThe African Development Bank (AfDB) jointly with the OECD Development Centre, the Economic Commission for Africa (ECA) and the UN Development Programme (UNDP) has published the “African Economic Outlook 2013: Structural Transformation and Natural Resources.”

According to the report, Africa’s agricultural, mining and energy resources could boost the continent’s economic growth and pave the way for a breakthrough in human development.

The continent’s economic outlook for 2013 and 2014 is promising, confirming its healthy resilience to internal and external shocks and its role as a growth pole in an ailing global economy. Africa’s economy is projected to grow by 4.8% in 2013 and accelerate further to 5.3% in 2014.

The study shows this growth has been accompanied by insufficient poverty reduction, persisting unemployment, increased income inequalities and in some countries, deteriorating levels of health and education.

The whole report is available for the IESE Community here.

Why is growth in Africa for real this time? IESE Prof. Alejandro Lago outlines the reasons in the IESE & Africa blog.