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African Economic Outlook 2005

image of African Economic Outlook 2005

The African Economic Outlook, a joint project of the African Development Bank and the OECD Development Centre, is an annual review of the recent economic situation and the likely short-term evolution of selected African countries. 

The analysis is presented on a country-by-country basis using a unique analytical design.  This common framework includes a forecasting exercise for the current and the two following years 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, placing the evolution of African economies in the world economic context.  A statistical appendix completes the volume.

"OECD has prepared a thorough report on the economic situation in Africa."

-Julius Coles, President, Africare

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Egypt

OECD Development Centre

THE GROWTH OF THE EGYPTIAN ECONOMY, driven primarily by export revenue and improved external competitiveness, has revived since mid-2003, returning to rates identical to those of the 1990s, at close to 5 per cent. Exports have benefited from the 25 per cent depreciation of the national currency against the US dollar following the introduction in January 2003 of a partially floating exchange rate, and the current account showed a surplus of nearly $3.7 billion at the...

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