According to the report, domestic demand has increased, along with improving the business environment and increasing public investment, especially in infrastructure, has helped the economy "black continent" has flourished.
The UN said the economic situation in Africa this year will depend on an improvement in the macro-economic policies which is the ability to operate the services sector and the degree of alignment with the new economy floating in trade and investment. These factors are expected to continue supporting the economic growth region in 2017.
Speaking at a press conference in Addis Ababa, Ethiopia's capital after the report was published, executive director of economic policy department of the Commission macro-economic UN Africa (UNECA), Adam Elhiraik optimistically assessed about the ability of economic management of African countries in the near future.
According to the report, the expectation in the East African economy will grow 6.8% in 2016, compared with an increase of 6.2% in 2015. While the economy of West Africa in 2016 and 2017 estimated the increase respectively 5.2% and 5.3% thanks to the "makeover" of the Nigerian economy, with the impressive growth of the non-oil sector.
Central African region is also forecasted to achieve average growth of 4.3% this year, compared to last year's corresponding level of 3.4%. The UN report also commented positively about the prospects for economic growth in South Africa and North Africa in 2016 and 2017.
However, the political instability in South Sudan and Burundi as well as the terrorist threats in Kenya and Somalia continue to put pressure on the growth of some African countries. In addition, the report also warned that the African economy in general will continue to face many risks and uncertainties in the future. In the context of the global, economic outlook still bleak and commodity prices growing trend lower.
Source:TTX
