economic growth

Financial Crisis Appears to be Over - World Bank

The World Bank estimates global gross domestic product (GDP) grew 2.3 percent in 2012, and it projected GDP growth in the current year to remain mostly unchanged at 2.4 percent.

In its report ‘Global Economic Prospects’, the bank notes that although the global economy remains fragile, the worst of the global financial crisis appears to be over.

Meanwhile, growth among developing countries is projected to be 5.5 percent in 2013 and 1.3 percent in high-income countries.

Trade and Industrial Policy Strategies: Office Administrator / Project Coordinator

The Trade and Industrial Policy Strategies (TIPS) is an independent, nonprofit economic research institution that facilitates policy development and dialogue in pursuit of sustainable and equitable growth in Africa. TIPS works across six theme areas or policy pillars: trade, African economic integration, industrial development, inequality and economic marginalisation, sustainable growth and rural development.

TIPS  seeks to appoint an Office Administrator/Project Coordinator, based in Pretoria.


SMMEs Key to SA Growth - Sexwale

Human Settlements Minister, Tokyo Sexwale, says that finding ways of developing South Africa’s small and medium-sized enterprise (SMMEs) sector is an important factor in its ‘inward look’ in search of sustainable solutions for the country’s economy.
Sexwale stated that South Africa’s economic growth is still mainly driven by government expenditure, as private sector investment is ailing in the wake of struggling global markets, with matters worsened by the recent downgrade of the country’s credit rating.

Lack of Science Capacity Threatens Africa’s Future

A meeting hosted by the United Kingdom Department for International Affairs (DFID) has heard that the ‘remarkable recent economic growth’ in many African countries may be able to sustain science through domestic funding.

Speaking at the launch of the Royal Society-DFID Africa Capacity Building Initiative in London, DFID chief scientific adviser and director of research, Chris Whitty, pointed out that lack of scientists is potentially a major block to the development of middle-income countries in Africa,.

World Bank's New Head on His Vision

Jim Yong Kim, the new president of the World Bank, has promised to align the institution with the rapidly changing world.

Kim, who will be starting his new job on 1 July 2012, points out that his vision is to foster an institution that responds effectively to the needs of its diverse clients and donors, among others.

Mozambique's Gas Holds Promise for SA's Energy Security

An Energy Planning Colloquium hosted by South Africa's (SA) Department of Energy was held from 29-30 March, served to highlight the challenges the country faces in meeting its high energy demand. As defined by the Minister of Energy, Dipuo Peters, and the Minister in the Presidency, responsible for the National Planning Commission, Trevor Manual, this included ensuring energy security and efficiency; competitive energy pricing; and lastly, encouraging growth while reducing carbon emissions in the sector.

Analysis of the New Growth Path

The New Growth Path’s (NGP) principal objective is ‘employment creation’. This is a good start, but what is most conspicuously absent is an international scan of the characteristics of countries that have succeeded at achieving high rates of economic growth and creating ‘millions of new jobs’.

The single most important lesson from the world’s experience is that countries with high or rising scores on the most important policy indices tend to outperform countries with low or falling scores.

Worldwide, prosperity and freedom tend to coincide.

Africa’s Middle Class Growing Steadily

The African Development Bank says that Africa's middle class has tripled over the last 30 years, with fully one in three now considered above the poverty line but not among the wealthy.

In its latest report, the bank says that in 2010, 34.3 percent of the African population, or 313 million people, were classified as middle class, compared with 26.2 percent or 111 million people in 1980.

It argues that, "Solid economic growth in Africa over the past two decades has contributed to reducing poverty in Africa and increasing the size of the middle class."


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