African Economic Outlook 2015

(CC) Newport Geographic / FlickrThe OECD Development Centre, jointly with the African Development Bank (AfDB) and the United Nations Development Programme (UNDP) has just published the “African Economic Outlook 2015.”

According to the report, with Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards.

The study forecasts that African economies will grow by 4.5 per cent in 2015 and may reach 5 per cent in 2016, converging with Asia’s current growth rates. However, lower oil and commodity prices, uncertain global conditions, the consequences of the Ebola outbreak in West Africa and domestic political uncertainties could delay an expected return to pre-2008 levels of growth.

Download the full report, including statistics and 54 individual country notes at www.africaneconomicoutlook.org