Since the launch of the 2018 edition of African Economic Outlook on March 6, it was announced that the publication would contain a focus for each of the five major regions of Africa. The presentation took place on Monday, March 12, 2018 at 14h at the Babacar Ndiaye auditorium , at the African Development Bank Headquarters in Abidjan.
” Africa’s Economic Outlook is a flagship publication of the Bank, highly regarded by policymakers, researchers and experts 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 Chief Economist and Vice President for Economic Governance and Knowledge Management, Célestin Monga.
Growth in a contrasting pattern
Economic growth in West Africa accelerated to a stagnation of 0.5% in 2016. It then rebounded in 2017 to 2.5%. According to projections, it should rise to 3.8% in 2018, then to 3.9% in 2019. However, the economic performances differ between countries. Nigeria accounts for about 70% of West Africa’s GDP.
The recovery in international oil prices and the rise in oil production in Nigeria and Ghana may change this contrasting pattern.
Shimeles Abebe, Acting Director for Macroeconomic Policy, Forecasting and Research at the Bank, says ” Africa’s Economic Outlook is the result of extensive research, which includes data collection, analysis and projections. Bank economists have redoubled their efforts to produce these regional economic reports, which further enrich the Bank’s knowledge products . ”
The five regional reports were all launched on the same date, in the different regions of the continent.