• Growth in Sub Sahara Africa to
pick up 3.5 percent
ADDIS ABABA- Sub-Saharan Economic Outlook revealed that Ethiopia, the region’s third largest economy, is expected to see growth at a rate of 7.7 percent by 2019-20.
IMF’s 2019 Sub-Saharan Economic Outlook launched here yesterday.
The report indicated that “government’s intention to pursue reforms to hand the reins of growth to private sector, if implemented properly, could raise growth in medium terms.”
The report also showed that Sub- Saharan regional economic growth is said to pick up from 3 percent in 2018 to 3.5 percent in 2019.
Some 21 countries, mainly the regions more diversified economies, are expected to sustain growth at 5 percent or more and remain on the impressive per capita convergence path they have been on since the 2000s, Papa N’ Diaye who is Division Chief Mission Chief for Botswana African Development said at the event. Conflict remained the main prob
lem to the continent’s growth he said, casting optimism that peace has been restored in most parts.
Private investment, rapid public investment, rapid private consumption and growing regional integration are said to be the drivers of the growth.
Sharp fall in oil-price, sharp swings in commodity price, among others, will still remain being growth challenges.
Herald May 3/2011
BY MISGANAW ASNAKE
