A preliminary assessment of the economic performance of Africa in1982 and prospects for 1983 : end-of-year statement

Abstract

The African economies being export-oriented have been particularly hard hit by the recession in the industrialized countries. Export revenues have fallen drastically not only in the non-oil exporting African countries which depend on traditional primary commodities but also in the oil-exporting countries causing a drastic fall in public revenue and severe cutbacks in public spending. There is an urgent necessity to reformulate development policies in African countries to give priority to the full use of internal resources, particularly in agriculture which has been too much neglected up to now. The ECA has been in the fore point of elaborating new schemes of cooperation among African countries.