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African Economic Outlook 2003

image of African Economic Outlook 2003

The African Economic Outlook is a joint project between the African Development Bank and the OECD Development Centre.  The project, initially funded by the EU, combines the expertise accumulated by the OECD and the knowledge of the African Development Bank on African economies. The objective is to review annually the recent economic situation and the short-term likely evolutions of selected African countries.  The Outlook is drawn from a country-by-country analysis based on a unique analytical design.  This common framework includes a forecasting exercise for the current and the following year using a simple macroeconomic model, together with an analysis of the social and political context.  It also contains a comparative synthesis of African country prospects.  A statistical appendix completes the volume.  Decision-makers and economists in African and OECD countries, both in the public and private sectors, aid agencies and investors will all find this volume of significant interest.

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Tunisia

OECD Development Centre

The structural adjustment programme and macroeconomic reforms launched in Tunisia in 1987 have been to good effect, producing steady growth (an annual average of 4.6 per cent between 1992 and 2001), healthy economic activity and social progress. Macroeconomic policy successes are chiefly attributable to consistency between measures adopted and to the gradualism that accompanied their implementation. These reforms stabilised the economy and improved the external position, boosting exports by an average 6.6 per cent a year at constant prices between 1987 and 2001, while annual inflation fell from 8.1 per cent to 1.9 per cent over the same period…

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