Africa should embrace new economic giants and boost social inclusion, says African economic outlook 2011

Abstract

African countries should develop closer cross-border ties to boost economic integration and sustainable and inclusive growth in dealing with traditional and emerging partners, says the African Economic Outlook 2011 launched today. Africa´s economies have weathered the global crisis relatively well and have rebounded in 2010. Recent political events in North Africa and high food and fuel prices are likely to slow the continent’s growth down to 3.7 percent in 2011. During this year, sub Saharan Africa will grow faster than North Africa. The new report predicts a rebound to 5.8 percent in 2012. “Africa is growing but there are risks. Urgent attention is needed to foster inclusive growth, to improve political accountability, and address the youth bulge,” said Mthuli Ncube, Chief Economist and Vice-President of the African Development Bank (AfDB).