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GROWTH, WHICH HAD REACHED 7.1 per cent in 2005, slowed to 3 per cent in 2006. The 4 per cent growth forecasts for 2007 and 2008 are hardly optimisticas they amount to just a 1 point increase in per capita GDP.
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NIGERIA CONTINUES TO MAKE PROGRESS on its far reaching economic reform programme, the National Economic Empowerment and Development Strategy (NEEDS), aimed at accelerating economic growth, reducing poverty, and achieving the Millennium Development Goals (MDGs).
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AFTER REACHING 5.5 PER CENT IN 2005, growth might only have barely reached 3 per cent in Senegal in 2006, owing to a conjunction of unfavourable factors.
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THE CAMEROON ECONOMY appeared to regain momentum in 2006 after its sluggish performance in 2005. Real GDP growth is projected to reach 4 and 4.1 per cent in 2007 and 2008 respectively.
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ANGOLA IS EXPERIENCING RAPID and prolonged economic growth, thanks to a boom in commodity prices and rapid development of oil and diamond production. But lack of structural reform, widespread inefficiency and weak governance are jeopardising the potential of economic growth.
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MAURITIUS HAS MADE CONSIDERABLE progress in transforming its economy from a low-income country to a middle-income country based primarily on the production and exports of sugar and textiles.
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THE 2005 PRESIDENTIAL ELECTION WAS a contest between opposition parties and a “presidential majority” coalition backing President Omar Bongo Ondimba for another sevenyear term. Bongo was declared by the constitutional court to have won re-election with about 80 per centof the votes cast.
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MACROECONOMIC STABILITY and prudent use of diamond export earnings have catapulted Botswana, a low-income country half a century ago, to its currentstatus as an upper middle-income country.
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BENIN HAS EXPERIENCED A GRADUAL slowdown in growth since 2001, from 6.2% in 2001 to 2.9% in 2005. Nevertheless, indicators for 2006 improved in comparison with 2005 and the overall outlook is quite positive.
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MADAGASCAR’S ECONOMY FELL INTO A DEEP recession after the 2001 political crisis. It soon bounced back, however, with growth of 9.8 % in 2003 and further expansion in 2004 (5.3 %), 2005 (4.6 %) and 2006 (4.8 %).