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African Economic Outlook 2011

Africa and its Emerging Partners

image of African Economic Outlook 2011

This tenth edition of the African Economic Outlook finds the continent on the rebound and expects it growth performance in the next years to resume at pre-crisis levels. The focus of the 2010 AEO is Africa's Emerging Economic Partnerships, presenting a comprehensive review of Africa's expanding economic relations with outside the continent that until very recently did not belong to the club of traditional “donors”, the OECD Development Assistance Committee. Africa benefits not only from the visible direct interactions with large emerging countries – investment, trade, aid – but also from the macroeconomic, political and strategic advantages that their rise has produced. As always, country chapters provide detailed information on a country-by-country basis and the statistical annex provides a wide variety of indicators for the countries covered.  This year, the AEA covers all African countries except Eritriea and Somalia.

Full-length country notes and report are available on www.africaneconomicoutlook.org

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Chad

OECD Development Centre

The economy did fairly well in 2010, growing an estimated 5.9% (up from 1.7% in 2009), with the better security situation a key. Growth was also driven by external factors such as higher world oil prices. The oil sector advanced by only 0.3% however, while the non-oil sector expanded strongly (6.4%, against 3.3% in 2009). As world demand picks up and construction and oil sector investment continues, overall growth is expected to be 5.7% in 2011 and 6.9% in 2012. Inflation fell sharply to 0.6%, from 10.1% in 2009. Public finance management was problematic due to poorly planned investment spending (based on domestic funding) which widely overshot budget limits and increased the primary non-oil deficit to 28.4% (up from 25.1% in 2009). Healthy oil prices substantially improved the external position and strong growth of goods exports (+33.8%) and foreign direct investment (FDI) in the oil sector (+36.8%) reduced the current account deficit to 12.8% of GDP (from 16.9% in 2009).

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