'Resilient' Africa set for solid growth

May 20 2014 08:27

Paris - Africa is set to see economic growth of 4.8% this year and further expansion to 5.7% on the continent in 2015, an annual report published Monday showed.

The report Economic Perspectives in Africa was produced jointly by the OECD, the African Development Bank and the UN Development Programme.

Africa has shown itself to be "resistant to internal and external (economic) shocks and is at the point of achieving solid economic growth", the three groups said in a statement about the study.

They said growth has come from a more diversified economy, boosted by internal demand, infrastructure and a growing trade of manufactured goods around the continent.

They added however the geopolitical situation on the continent could affect the growth estimates.

"Three years after the revolution in Egypt, Libya and Tunisia, political stability in the region has not yet been completely re-established," they said, also noting instability in Mali and the Central African Republic.

africa  |  africa economy



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