Publication: CPIA Africa, July 2018: Assessing Africa's Policies and Institutions
Date
2018-07
ISSN
Published
2018-07
Author(s)
World Bank Group
Abstract
Favorable global economic conditions
supported a turnaround in economic activity in Sub-Saharan
Africa in 2017, easing pressure on weak policy frameworks.
Output growth rebounded to an estimated 2.6 percent after
decelerating to 1.5 percent in 2016 amid challenging
external and domestic conditions. Notwithstanding the recent
upturn in economic activity, growth remained well below its
pre–financial crisis average of around 5 percent; moreover,
per capita growth was negative for a second consecutive
year. Important near and longer term vulnerabilities remain
in many of the region's economies: eroded policy
buffers constrain the scope for countries to formulate an
adequate policy response to adverse shocks; public debt
relative to gross domestic product (GDP) is rising, with
implications for debt sustainability; employment
opportunities severely lag the growing labor force, and
livelihoods and economic fortunes are still tied to
commodity price shocks and production disruptions,
underscoring the limited economic diversification in the
region; and poverty is widespread.
Citation
“World Bank Group. 2018. CPIA Africa, July 2018: Assessing Africa's Policies and Institutions. © World Bank, Washington, DC. http://hdl.handle.net/10986/30155 License: CC BY 3.0 IGO.”