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African Economic Outlook 2017

Entrepreneurship and Industrialisation

image of African Economic Outlook 2017

The African Economic Outlook 2017 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, external financial flows and tax revenues, trade policies and regional integration, human development, and governance. For its 16th edition, the report  takes a hard look at the role of entrepreneurs in Africa’s industrialisation process. It proposes practical steps that African governments can take to carry out effective industrialisation strategies. Policies aimed at improving skills, business clusters and financing could remove important constraints on African private enterprises.

A section of country notes summarises recent economic growth, forecasts gross domestic product for 2017 and 2018, and highlights the main policy issues facing each of the 54 African countries. A statistical annex (available only on line) compares country-specific economic, social and political variables.

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Editorial

OECD Development Centre

The 16th edition of the African Economic Outlook highlights the fact that Africa’s economic performance is reflecting the perils of the global economy. The region’s real GDP growth slowed down to 2.2% in 2016, mainly due to the continued fall in commodity prices and weak global economic growth. East Africa was the fastest growing region at 5.3% real GDP growth, followed by North Africa at 3%. Growth in other regions was anaemic, ranging from a low of 0.4% in West Africa, dragged down by the recession in Nigeria, to 1.1% in Southern Africa, with South Africa, the region’s largest economy, posting only 0.3% growth.

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