The African
Economic Outlook 2013 was launched on May 27th during the Marrakech conference.
Co-published by the African Development Bank (AfDB), OECD’s Develppment Centre,
the United Nations Economic Commission for Africa and the United Nations
Development Program, this report outlines the promising trend of economic
growth in African countries but addresses the failure in the reduction of
poverty, unemployment, income inequality, and among some countries the
deterioration of health and education levels.
Through the
exploitation of natural resources and structural transformation, the benefits
of economic growth could be shared among the population. Improving the
well-being of citizens, which should be of the end of economic growth, could be
achieved through 4 priorities:
- Increasing the access to markets (through regional integration) in order to achieve the structural transformation
- Sound land management, effective tax systems and incentives to cause an acceleration and diversification of the sources of growth.Improving the transport, fertilizers and more resistant seeds in order to increase the productivity. Africa holds 24% of the world’s agricultural land, but accounts for only 9% of its production.
- Ensuring that a fair share of the proceeds from natural resources are invested in people’s capacities to take up new jobs in value-added sectors.
- Finally, the report suggests that African countries can foster change and economic diversification actively, for example through corridors of development around power, transport and communication lines. Stable and transparent use of budgets is key to achieving that goal.
To read the whole report, click here
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