Economic Report on Africa 1994

Abstract

Economic performance has again been disappointing in most African countries as it has been in the past decade and a half. Overall regional product grew by only 1 per cent in 1993, according to ECA's latest estimates, compared with a virtual stagnation in output in 1992. The average GDP growth rate for the period 1990-1993 is now thought to be around 1.3 per Cent, which amounts to a yearly fall in per capita product of 1.7 per cent a further slide into poverty on the part of the generality of the African population. The Economic Report 1994 provides an analysis of the main socio-economic trends and issues in the performance of African economy in 1993, and the outlook for 1994. It updates, in the light of additional data and information since December 1993.