Economic Report on Africa 1996
Author(s)/Corporate Author (s)United Nations. Economic Commission for Africa;
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The African economy recorded its second highest annual growth rate. since the beginning of the decade, in 1995. Gross domestic product (GDP) for the region increased by 2.3 per cent, compared with a revised figure of2.1 percent for 1994 and 1.8 percent in 1993. Another indication of the improving economic performance and recovery in the region was the positive growth (2.4 per cent in 1995), in the GDP of the 33 African least developed countries, following three years of consecutive decline. Despite the modest recovery evidenced by faster growth in GDP, per capita income base yet to reverse its declining trend and many countries in Africa were still at the lower end of the growth spectrum, given the persistence of structural constraints.