CPIA Africa, July 2017 : Assessing Africa's Policies and Institutions
Sub-Saharan Africa faced another challenging year in 2016. Economic activity continued to weaken, amid less favorable terms of trade, slowdown in global growth, and difficult domestic conditions. Output growth decelerated sharply to 1.3 percent, th...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/891501500349324004/Assessing-Africas-policies-and-institutions-2016-CPIA-results-for-Africa http://hdl.handle.net/10986/28283 |
| Summary: | Sub-Saharan Africa faced another
challenging year in 2016. Economic activity continued to
weaken, amid less favorable terms of trade, slowdown in
global growth, and difficult domestic conditions. Output
growth decelerated sharply to 1.3 percent, the slowest pace
in over two decades and not as stellar as the average annual
growth of around 5 percent in the pre-global financial
crisis period of 1995–2008. Regional growth in 2016 was
insufficient to raise gross domestic product (GDP) per
capita, which contracted by 1.3 percent. At the same time,
Sub-Saharan Africa's poverty rate remains high: 41
percent of the region's population—nearly 390 million
people—were living in extreme poverty in 2013. Weak economic
performance threatens gains in poverty reduction, and the
region urgently needs to regain momentum on growth and make
it more inclusive. |
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