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Key Messages
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African growth picking up and becoming more broad
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Cyclical and Policy factors explain most of the growth
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An opportunity not to be missed: growth remains volatile and major development challenges persist
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Need to sustain the good times
Good policy has also contributed to the recent good time
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Better economic management
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More competitive exchange rate
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Better institutions
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Better governance
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Fewer conflicts
To sustain the good times and avoid the bad
- In resource-scarce economies:
Accelerating productivity growth and increasing private investment are key.
Therefore, emphasis on:
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Improving the investment climate
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Improving infrastructure
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Spurring innovation
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Building institutional capacity
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In resource-rich economies:
Ensuring that natural resource wealth translates into broad-based income growth and delivery of services is key.
Therefore, emphasis on:
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Awards of contracts and licenses
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Regulation and monitoring of operations
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Collection and disclosure of taxes and royalties
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Resource extraction and economic management decisions
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Public spending for sustainable development
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In fragile and conflict-affected situations:
Laying the basis for long-term recovery is critical.
Therefore, emphasis on:
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Preventing of escalation or resumption of conflict
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Achieving visible results in terms of service delivery through alternative mechanisms
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Focusing on ways to enhance the capacity and accountability of state institutions
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- 225Kb ~ 1 min (24 pages)
