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THE ETHIOPIAN ECONOMY has performed strongly in recent years. Growth has averaged an impressive 8.9 per cent over 2004-06, driven mainly by strongagricultural growth along with expansion in industry and services.
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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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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.
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THE GHANAIAN ECONOMY is benefiting from one of the most successful reform programmes in Africa, with increased growth reflecting strong economicfundamentals underpinned by anti-inflationary monetary policy and fiscal consolidation.
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MOROCCO’S ECONOMIC PERFORMANCE improved markedly in 2006 and the outlook for 2007 is favourable. Growth reached 7.3 % in 2006, well above the forecast 5.3 % a year earlier, but is expected to slow down to 3.1 % in 2007.
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IN 2005, THE KENYAN ECONOMY sustained the momentum that had started in 2003. Real GDP grew by 5.8 per cent in 2005 compared with 4.9 per cent in 2004, and it is estimated at 5 per cent in 2006. This economic growth is expected to be maintained in the medium term.
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In 2006,national economic activity,although down from the performances recorded in 2005, remained buoyant despite the decline in oilsector activity. Real overall GDP growth is estimated at about 1.3 per cent for 2006.
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MALAWI IS AMONG THE POOREST countries in the world without a violent internal conflict.While 2005 presented a number of severe challenges, including amajor food-security crisis where close to half the population required emergency food support, GDP growth rebounded strongly in 2006.
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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.