“By structural policies I’m referring to investments in education and their citizens – referring to continued opening of trade and investment linkages both among themselves – that is, developing countries – but also with the high-income countries,” said Dennis.
While Europe remains Africa’s largest trading partner, African countries have started to expand their reach.
“Ten or fifteen years ago, sub-Saharan Africa was exporting over 40 percent of its goods to Europe. Now it’s probably exporting less than 25-percent. So, that makes it less vulnerable,” he said.
The World Bank expects an overall five-percent economic growth rate in sub-Saharan Africa this year. However, not all countries in the region will see such growth. Those affected by political instability, conflict, labor disputes or major weather-related problems could see much less.
Also, the World Bank says, “While economic output of developing countries has accelerated,” it is still being “held back by weak investment and industrial activity in advanced economies.”
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2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25
2013-11-25