Regional Economic Outlook, Sub-Saharan Africa, October 2024 PDF Download
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Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
Sub-Saharan African countries are implementing difficult and much needed reforms to restore macroeconomic stability, and while overall imbalances have started to narrow, the picture is varied. Policymakers face three main hurdles. First, regional growth, at a projected 3.6 percent in 2024, is generally subdued and uneven, although it is expected to recover modestly next year to 4.2 percent. Second, financing conditions continue to be tight. Third, the complex interplay of poverty, scarce opportunities, and weak governance--compounded by a higher cost of living and short-term hardships linked to macroeconomic adjustment--are fueling social frustration. Within this environment, policymakers face a difficult balancing act in striving for macroeconomic stability while also working to address development needs and ensure that reforms are socially and politically acceptable. Protecting the most vulnerable from the costs of adjustment and realizing reforms that create sufficient jobs will be critical to mobilize public support.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 31
Get Book Here
Book Description
Sub-Saharan African countries are implementing difficult and much needed reforms to restore macroeconomic stability, and while overall imbalances have started to narrow, the picture is varied. Policymakers face three main hurdles. First, regional growth, at a projected 3.6 percent in 2024, is generally subdued and uneven, although it is expected to recover modestly next year to 4.2 percent. Second, financing conditions continue to be tight. Third, the complex interplay of poverty, scarce opportunities, and weak governance--compounded by a higher cost of living and short-term hardships linked to macroeconomic adjustment--are fueling social frustration. Within this environment, policymakers face a difficult balancing act in striving for macroeconomic stability while also working to address development needs and ensure that reforms are socially and politically acceptable. Protecting the most vulnerable from the costs of adjustment and realizing reforms that create sufficient jobs will be critical to mobilize public support.
Author: Albert G. Zeufack
Publisher:
ISBN:
Category :
Languages : en
Pages : 110
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Book Description
The economic impact of the COVID-19 pandemic in Sub-Saharan Africa has been severe; however, countries are weathering the storm so far. Real GDP is estimated to contract by 2.0 percent in 2020-close to the lower bound of the forecast range in April 2020, and less than the contraction in advanced economies and other emerging markets and developing economies, excluding China. Available data from the second half of 2020 point to rebound in economic activity that explain why the contraction in the region was in the lower bound of the forecasts. It reflected a slower spread of the virus and lower COVID-19-related mortality in the region, strong agricultural growth, and a faster-than-expected recovery in commodity prices. Economic activity in the region is expected to rise to a range between2.3 and 3.4 percent in 2021, depending on the policy measures adopted by countries and the international community. However, prospects for a slow vaccine rollout, the resurgence of pandemic, and limited scope for additional fiscal support, could hold back the recovery in the region. Policies to support the economy in the near term should be complemented by structural reforms that encourage sustained investment, create jobs and enhance competitiveness. Reducing the countries' debt burden will release resources for public investment, in areas such as education, health, and infrastructure. Investments in human capital will help lower the risk of long-lasting damage from the pandemic which may become apparent over the longer term, and can enhance competitiveness and productivity. The next twelve months will be a critical period for leveraging the African Continental Free Trade Area in order to deepen African countries' integration into regional and global value chains. Finally, reforms that address digital infrastructure gaps and make the digital economy more inclusive "ensuring affordability but also building skills for all segments of society, are critical to improve connectivity, boost digital technology adoption, and generate more and better jobs for men and women.
Author: Aidar Abdychev
Publisher: International Monetary Fund
ISBN: 1498306810
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
Far-reaching changes in technology, climate, and global economic integration are transforming the world of work in ways that we do not yet fully understand. Will the swift technological advances of the Fourth Industrial Revolution raise the standards of living for everyone? Or will robots massively displace workers leading to a jobless future where only a few benefit from the fruits of innovation? Will mitigation efforts be able to cushion the adverse effects of climate change, including food shortages and mass migration, which would place extra pressure on urban labor markets? Will countries continue to integrate commercially and financially, fostering growth and employment? Or will trade wars become a norm in a world increasingly fragmented and inward-looking? In sub-Saharan Africa, these uncertainties meet a dramatic increase in population and a rapid expansion in the labor force, which is becoming increasingly urban.
Author: International Monetary Fund. Research Dept.
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781513556055
Category : Business & Economics
Languages : en
Pages : 203
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Book Description
The global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April. But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations. While recovery in China has been faster than expected, the global economy’s long ascent back to pre-pandemic levels of activity remains prone to setbacks.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1513568426
Category : Business & Economics
Languages : en
Pages : 91
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Book Description
The Nigerian economy is at a critical juncture. A weak pre-crisis economy characterized by falling per capita income, double-digit inflation, significant governance vulnerabilities and limited buffers, is grappling with multiple shocks from the COVID-19 pandemic. Real output is projected to contract by 3.2 percent in 2020, with a weak recovery likely to keep per capita income stagnant and no higher than the 2010 level in the medium term. Policy adjustment and reforms are urgently needed to navigate this crisis and change the long-running lackluster course.
Author: Deon Filmer
Publisher: World Bank Publications
ISBN: 1464801088
Category : Business & Economics
Languages : en
Pages : 283
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Book Description
This book focuses on how to improve the quality of jobs and meet the aspirations of youth in Sub-Saharan Africa. It finds that a strong foundation for human capital development can be key to boosting earnings, arguing for a balanced approach that builds skills and demand for labor.
Author: Norbert Edomah
Publisher: BoD – Books on Demand
ISBN: 1789852374
Category : Business & Economics
Languages : en
Pages : 262
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Book Description
Regional development is a broad term but can be seen as a general effort to reduce regional disparities by supporting (employment and wealth-generating) economic activities in regions. In the past, regional development policy tended to try to achieve these objectives by means of large-scale infrastructure development and by attracting inward investment” (OECD, 2014).A territorial and regional approach to development is crucial in addressing regional challenges, regional economic competitiveness, and reducing socio-economic discrepancies. This book provides a forum to articulate and discuss Africa’s regional development issues in view of the rising opportunities within the African region. This volume contains 14 chapters and is organized in four sections: Introduction; Industry, Trade and Investment in Africa; Agricultural Services and the Water-energy-food Nexus in Africa; and Environmental and Cultural Dimensions to Africa’s Regional Development.
Author: Mr.Dhaneshwar Ghura
Publisher: International Monetary Fund
ISBN: 1451855753
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
Author: African Development Bank
Publisher: OECD Publishing
ISBN: 926427426X
Category :
Languages : en
Pages : 317
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Book Description
The African Economic Outlook 2017 presents the continent’s current state of affairs and forecasts its situation for the coming two years.
Author: World Bank
Publisher: World Bank Publications
ISBN: 1464816662
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth.This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
