Africa Continues to Grow Strongly but Poverty and Inequality Remain Persistently High

Economic growth in Sub-Saharan Africa (SSA) remains strong with growth forecasted to be 4.9% in 2013.

GIBS Information Centre / GIBSIC‘s insight:

Growth, poverty, inequality – “Africa’s rising growth is underpinned by strong private investment. Gross fixed capital formation in the region has steadily increased from about 16.4% of GDP in 2000 to about 20.4% in 2011. The pickup in investment has directly contributed to economic growth and has also helped boost the productive capacity of the region’s economy.  –  Increasingly, infrastructure projects are being financed from new funding sources, such as China, but increasingly from Brazil and India, according to the analysis.

Translating growth into much less poverty

Despite strong growth, Africa’s progress on ensuring that growth translates into considerably less poverty has been slow and hindered by high inequality.”

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