“Dynamic Industrial Policy in Africa – Innovative Institutions, Effective Processes and Flexible Mechanisms”: statement By Carlos Lopes UN Under-Secretary General and Executive Secretary of ECA

Abstract

This report is being launched at a time when Africa is emerging as a pivotal region for global economic growth. This had been evidenced by the continent’s robust growth performance despite subdued global growth caused by the global economic crisis and the slow global recovery. Africa’s growth has averaged about 5 per cent per year over the last decade, with some countries growing by more than 7 per cent. Projections for the medium term indicate growth is expected to rebound back to 5 per cent.