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African Economic Outlook 2010 Finds that Africa’s Recovery is Underway

August 4, 2010

Briefing Note on the African Economic Outlook 2010, African Development Bank Group, July 16, 2010

From the report: After a decline in growth in 2009, Africa’s recovery now seems well underway. The continent has exhibited substantial resilience to the global recession, relative to most other developing regions and its own past record. While some factors driving Africa’s recovery have been external, the positive outcome to date has also been due to the good policies that countries implemented before and during the crisis. Nevertheless, substantial risks remain and have been only exacerbated by the recent European turmoil, while the challenge of bringing African countries on a path of high growth and poverty reduction has become even more pressing. This note is based on the findings of the African Economic Outlook 2010 (AEO 2010). It examines how the African continent, its regions and countries, have weathered the global crisis and what the expectations are for 2010 and 2011. It also looks at trade policies and regional integration, the progress towards attaining the Millennium Development Goals and explores how public resources can be better mobilised for development through more effective, more efficient and fairer taxation.

Access the report here.

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