Monday, October 31, 2011

Africa's Economic Forecast

According to The Economist
With world economic growth of around 4%, the IMF forecasts that sub-Saharan Africa’s GDP will grow by 5.3% this year and 5.8% in 2012. But if the global recovery slows, as seems likely, South Africa and other countries that trade heavily will be affected. Indeed, output and employment in a few mostly middle-income countries, including South Africa, have yet to return to pre-crisis levels. High food and fuel prices are creating inflationary pressures, and a severe drought has displaced nearly 1m people and might cost Ethiopia and Kenya half a percentage point of GDP.

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