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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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Congo Republic

OECD Development Centre

Congo’s economic performance in 2010 owes a great deal to the increase in its oil production. The latter reached a record level, estimated at 115 million barrels compared to 99 million in 2009. Fiscal reform and debt relief obtained under the HIPC Initiative also consolidated fundamental indicators and improved the budgetary balance. The result was a strong 10.2% growth rate in 2010, with 8.4% expected in 2011. These growth rates nevertheless remain fragile. They depend too heavily on the international oil market and maintenance of a high level of oil production. Medium-term forecasts show that oil production will gradually diminish unless new reserves are discovered. Diversification of the economy remains a crucial issue. Construction, public works and telecommunications continue to thrive. The forestry sector seems to be recovering after having been penalised by the global crisis. Increased demand from Asian countries, particularly China, which is the leading buyer of Congolese timber, is ensuring the industry's survival.

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