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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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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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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 %).
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EGYPT HAS GREATLY BENEFITED FROM reforms to open up and liberalise its economy in recent years and has quickly become a dynamic market economy, led by the private sector and well integrated into the global economy.
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Burkina Faso is one of the poorest countries in the world. More than 45 per cent of the population lives on less than a dollar a day. Nonetheless, development perspectives appear good based on recent economic performances.
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THE FIRST FREE ELECTIONS IN 40 YEARS made 2006 a very important year, which also saw the adoption of the national constitution for the Third Republic. The country is one of the world’s poorest and years of war have destroyed most infrastructure and productive activity.