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African Economic Outlook 2009

image of African Economic Outlook 2009

The international financial crisis increases the relevance of this annual publication jointly published by the African Development Bank, the OECD Development Centre and the United Nations Economic Commission for Africa (UNECA). Decision makers in African and OECD countries, such as aid agencies, investors, NGOs and government officials of aid-recipient countries, will all find the analysis critical to their activities.

The African Economic Outlook 2009 reviews the recent economic situation and predicts the short-term evolution of 47 African countries which account for 99% of the continent's economic output and 97% of its population. 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 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.

The 2009 edition focuses on innovation and information and communication technologies (ICT) in Africa, presenting a comprehensive review of their proliferation and use on the African continent. A statistical appendix completes the volume.

The AEO project is generously supported by the European Commission and combines the knowledge of the African Development Bank and the UNECA on African economies with the expertise accumulated by the OECD, which produces the OECD Economic Outlook twice yearly.

This publication provides dynamic links (StatLinks) for graphs and tables. These StatLinks direct the user to a web page where the corresponding data are available in Excel® format.

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Mozambique

OECD Development Centre

AFTER AVERAGING 8.6 PER CENT SINCE the beginning of the decade, growth in Mozambique fell to 6.2 per cent in 2008 because of disruptive floods and energy shortages. The economy is likely to be relatively shielded from the direct impacts of the current world financial crisis because its financial system is poorly integrated into world capital markets. However, growth is expected to slow in 2009 to 4 per cent as a consequence of falling world demand for commodities, foreign direct investment (FDI) flows and public investment financed with external assistance. It will rebound to 5.2 per cent in 2010, assuming a partial recovery of the international economy and further expansion of agriculture. Inflation rose to 10.4 per cent in 2008 because of high food and fuel prices but it is expected to fall in 2009 following the decline in international prices.

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