1945

Recent Economic Trends in Africa and Prospects for 2006

In 2005, African economies recorded another strong performance, continuing the momentum of strong growth achieved in 2004. The continent benefited from rising global demand for primary commodities, including oil, which resulted in high export earnings for resource-rich countries. In addition, African economies continued to reap the benefits from macroeconomic reform, which translated into consolidation of macroeconomic balances with low inflation rates, declining budget deficits, stabilization of exchange rates and improvements in current account balances.

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