Johannesburg - Africa's growth rate will decline to 3.7%
in 2011 from 4.9% in 2010, according to an African economic outlook forecast by
the African Development Bank (AfDB).
Domestic consumer demand, good macroeconomic policies and
management, commodity prices, and prices of agricultural exports were
identified as the main drivers of growth.
Growth by regions showed that east Africa would grow the
fastest this year by 6.7%, followed by west Africa with 5.9% and 6.8% in 2012.
Central Africa was seen growing 5.3% this year and 5.7% in 2012, while southern
Africa's growth was forecast at 4.5%, rising to 5.5% in 2012.
North Africa would grow the least this year, achieving a
growth rate of just 0.7%.
Growth was also expected to be robust in sub-Saharan Africa,
with the region's real gross domestic product growth expected to increase to 5.5% from 5.0% in
2010. With the exclusion of Cote d'Ivoire, sub-Saharan Africa's growth was
forecast at 5.7% in 2011.
The political turmoil in North Africa was the main reason
behind the bank's 0.7% growth forecast for the region.
Africa's GDP would rise to 5.8%, "assuming a quick return to stability" in North Africa.