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African Economic Outlook 2016

Sustainable Cities and Structural Transformation

image of African Economic Outlook 2016

The African Economic Outlook 2016 presents the continent’s current state of affairs and forecasts its situation for the coming two years. This annual report examines Africa’s performance in crucial areas: macroeconomics, financing, trade policies and regional integration, human development, and governance. For its 15th edition, the African Economic Outlook  takes a hard look at urbanisation and structural transformation in Africa and proposes practical steps to foster sustainable cities.

A section of country  notes summarises recent economic growth, forecasts gross domestic product for 2016 and 2017, and highlights the main policy issues facing each of the 54 African countries. A statistical annex compares country-specific economic, social and political variables.

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Editorial

OECD Development Centre

Africa’s economic performance held firm in 2015, amid global headwinds and regional shocks. Growth in real GDP is estimated at 3.6%, higher than the 3.1% for the global economy and 1.5% for the euro area. Africa remained the world’s second fastest growing economy after East Asia. In 2015, sub-Saharan Africa (excluding South Africa) grew faster than the continental average, at 4.2%, with East Africa leading the way at 6.3%. Growth in Central, North and West Africa was above 3%, while Southern Africa grew by an average of 2.2%. Looking ahead, average growth in Africa is expected to remain moderate at 3.7% in 2016 but could accelerate to 4.5% in 2017. This forecast hinges on the strength of the world economy and a gradual recovery in commodity prices.

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