The African Development Bank (ADB) group has just published the 2018 edition of its report on the African Economic Outlook. A noteworthy feature of this year’s publication. It devotes a focus to each of the five major economic regions on the continent.
Unveiled Monday, March 12 at the headquarters of the institution in Abidjan in Côte d’Ivoire, the document combs the economies of all the nations of Africa.Il draws a thinning of African economies.
“Africa’s Economic Outlook is a flagship publication of the Bank for its analytical quality and practical recommendations on how to address critical development issues. It also provides an overview of the economies of the 54 African countries, “said Célestin Monga, AfDB Chief Economist and Vice President for Economic Governance and Knowledge Management.
“By offering regional approaches for the first time, we want to leverage the Bank’s expertise and give more depth of analysis and relevance to this publication. He informs.
In this respect, West Africa, which has fifteen countries, has been the subject of a thorough analysis. The specificities of the region have been reviewed. This is how we learn that after several “boom years”, economic growth in this region stagnated to 0.5% in 2016. However, it rebounded in 2017, reaching 2.5% and should, according to projections, to rise to 3.8% in 2018 then to 3.9% in 2019.
However, the economic performance varies according to the country, the report says. Nigeria, which remains the economic “heavyweight” of the zone, alone accounts for about 70% of West Africa’s GDP. For the AfDB, the embellishment of this overall economic picture of space is linked to the recovery of international oil prices and the rise in oil production in Nigeria and Ghana – which together represent 11 about% of West Africa’s GDP in 2017.
“Africa’s Economic Outlook is the result of extensive research, which includes data collection, analysis and projections. The Bank’s economists have redoubled their efforts to produce these regional economic reports, which further enrich the Bank’s knowledge products, “said Shimeles Abebe, Acting Director of Macroeconomic Policy, Forecasting and Information Technology. research at the Bank.