1945

Growth and social development in Africa in 2007 and prospects for 2008

Economic performance in Africa continued to improve in 2007. The continent recorded a high level of growth, improved fiscal and current account balances, a relatively stable macroeconomic environment and increasing domestic savings and investment rates. However, these improvements were mainly due to high oil revenues in oil-exporting countries and remain insufficient for Africa to meet the MDGs. The continent needs to sustain high levels of growth in order to achieve meaningful economic and social development.

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