African economic growth to rebound 4,8% - UN

The UN Economic Commission for Africa reports that growth on the continent could top 4.8 per cent in 2010 after dipping to 2.4 per cent in 2009 down from 4.9 per cent the previous year.

West African growth, based in oil, climbed at 5,5% last year while East Africa’s economies grew by 4.3%. North Africa posted a Gross Domestic Product growth rate of 3.6 per cent, Central Africa economies grew by an average 1.8% and in Southern Africa, the economies shrunk by 1.1 per cent.

Commodity prices are expected to stabilize in 2010 and rise moderately in 2011. But the UN has warned African governments’ that they need to improve investment in infrastructure and human capital, improve efforts at domestic resource mobilization, market reforms, increase incentives to support private-sector employment and to lift productivity and income in the informal sector are needed to achieve these aims.
(Business Day)
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