Recent economic and social developments

Africa grew by 3.2 per cent in 2018, down slightly from 3.4 per cent in 2017, buoyed by improved global growth that is increasing demand for Africa’s exports and by rising commodity prices, higher investment in infrastructure, strong private consumption and favourable weather. Growth is forecast to pick up to 3.4 per cent in 2019. However, Africa needs to triple this growth if countries are to achieve the Sustainable Development Goals (SDGs). Countries need to use new technology to improve productivity and to increase investment to 30—35 per cent of GDP by becoming more business friendly and using fiscal policy to encourage private investment. Africa’s growth prospects remain positive in the medium term, despite risks and uncertainties.

Sustainable Development Goals:

Peace, Justice and Strong Institutions

Decent Work and Economic Growth