Africa Urged to Step Up the Tempo

Africa has favourable medium-term economic prospects although growth rates have not recovered to pre-crisis levels, according to an OECD report

Africa has favourable medium-term economic prospects although growth rates have not recovered to pre-crisis levels, according to a report that also fingered rising inequality and abusive practices by multinationals.

Co-authored by the Organisation for Economic Co-operation and Development (OECD), the 2013 African Economic Outlook points out that, "With projected growth of 4.8 percent in 2013 and 5.3 percent in 2014, Africa's growth performance would continue to remain below average growth ... preceding the 2009 global recession."

The report further states that the continent needs seven percent growth to reduce poverty, while its population increases by two percent a year.

To read the article titled, “Africa must step up the tempo - report,” click here.

 

Source: 
Fin24

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