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Economic Report on Africa 2002

Tracking Performance and Progress

image of Economic Report on Africa 2002

Africa was the only developing region to accelerate its growth in a turbulent year that saw the synchronized slowdown of all major economies and heightened uncertainty about prospects for the world’s largest economy. Yet Africa’s average annual GDP growth of 4.3% masks sharp disparities. This year’s report builds on the work of the two previous reports in laying out an agenda for Africa based on systematic benchmarking of economic performances. It begins with a discussion of broad economic trends in 2001 and prospects for 2002. It also reveals general improvements in policy. Finally, in a new feature, this report supplements the traditional region-wide analysis with seven in-depth country studies.

English

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Overview

Africa grew faster than any other developing region in 2001, reflecting better macroeconomic management, strong agricultural production, and the cessation of conflicts in several countries. But Africa’s average GDP growth of more than 4% in 2001 masks wide disparities among countries. Moreover, economic growth remains fragile, and at current rates of progress Africa will not achieve any of the Millennium Development Goals set by the United Nations.

English

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