In 2019, however shortterm developments in the democratic republic of the congo drc and zimbabwe, as well. Africa economic outlook jeanchristophe batlle, managing director for africa. The african economic outlook aeo 2020 was prepared in the vice presidency for economic governance and knowledge management, under the general direction of charles lufumpa, acting vice president and chief economist, with support from eric ogunleye, amah marieaude ezanin koffi, tricia baidoo, and vivianus ngong. The report, which forecasts the outlook for subsaharan africa in 2016 and 2017. Burundi government has already created a tax authority obr. Industrial production doubled its pace of contraction in q4, as unprecedented rolling blackouts hampered mining and manufacturing activities. The turbulence both economic and political in parts of the continent in recent years has doubtless been a shock, but it has not derailed africas growth story.
Despite falling commodity prices, africas external financial flows have remained stable overall. The report also highlights significant allocations from the 201617 budget to various sectors in the country. Almost all african countries are expected to register higher growth in 2010 than in 2009. In line with the countrys strong growth potential, fitch sees economic expansion returning to the 5% or higher levels seen over the 201015 period. Subsaharan africa economic outlook data, statistics.
Reo regional economic outlook imf sacu southern african customs union ssa subsaharan africa tfp total factor productivity usaid united states agency for international development var vector autoregression vix chicago board options exchange volatility index waemu west african economic and monetary union. African economic outlook 2016 african development bank nov 27. In this regard, the federal government has developed a framework in the nigeria economic. In july 2016, the government adopted a new economic growth plan 2016 30 focusing on the private. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development. Foreword the african economic outlook aeo celebrates its 15th edition this year. Africas growth and growth prospects, by subregion, 20162020. Africas sustainable economic and social transformation is a global priority.
Economic outlook 2016 3 preamble the tanzania economic outlook 2016 report provides an overview of tanzanias economic environment and key sectors. South africa sees its growth outlook sag further on lack of sufficient regulatory reforms and repair 10th january 2020 figure 3. Deteriorating government finances despite higher tax. The african tax administration forum ataf and the african tax research network atrn are pleased to invite submissions for the 6th atrn annual congress, which presents an opportunity for academics, researchers, tax administrators, students, tax practitioners, consultants and decisionmakers on fiscal and tax policy in africa, to gather and. Taking stock of africa s structural transformation. This april 2016 issue of the regional economic outlook. A rise in confidence in early 2018 and the recent upward revision of national accounts for the period 2015 to 2017 suggest that the country is recovering from a difficult 2015 and 2016, which marked the end of the supercommodity cycle and severe drought. Success in africa depends on having advisors that understand africa as well as they understand your business. African economic outlook 2017 entrepreneurship and.
The data and projections cover 45 subsaharan african countries in the imf s african department. African economic outlook 2019 macroeconomic performance and prospects jobs, growth, and. African economic outlook 2016 african development bank. The imf still forecasts that africa will be the secondfastest growing region in the world between 2016 and 2020 with annual growth of 4. In this regard, the federal government has developed a framework in the nigeria economic recovery and growth plan 201720. The african economic outlook aeo celebrates its 15th edition this year. The increasing importance of quality development aid1. How africa can secure its longterm economic growth. A stable macroeconomic environment with singledigit inflation averaging 6% in 2016 prevailed as political campaigning for the august 2017 general elections got underway. Mozambiques outlook remains positive if government negotiations with gas and coal operators make breakthroughs that allow for final investment decisions on liquefied natural gas projects during 2016. Africa s sustainable economic and social transformation is a global priority. African economic outlook 2016 sustainable cities and.
The african economic outlook 2015 analyses africa s growing role in the world economy and predicts the continents twoyear prospects in crucial areas. The economy of africa consists of the trade, industry, agriculture, and human resources of the continent. May 08, 2018 subsaharan african countries could increase tax revenue by an average of 5 percent of gross domestic product much more than what they receive in international aid if they reform their tax. The regions 2020 economic outlook deteriorated markedly this month owing to the intensifying coronavirus fallout and slump in commodity prices, particularly of oil. An analysis of issues shaping africa s economic future u subsaharan african countries maintain growth momentum, as well as progress toward the mdgs u growth has reduced poverty, but not by enough u. The fibre optic network is set to be linked to submarine cable systems on the east coast of africa for faster and cheaper international bandwidth. April 2018 world economic outlook, the saving rates on the continent will average almost 18 percent of gdp over the next five. Commodity prices are expected to stabilize but remain low through. South africa economic update public disclosure authorized. Pdf how sustainable cities can contribute to africas.
Sustainable cities and structural transformation, chapter. Private consumption has been constrained due to recent tax changes and slow credit growth. The african tax administration forum ataf and the african tax research network atrn are pleased to invite submissions for the 6th atrn annual congress, which presents an opportunity for academics, researchers, tax administrators, students, tax practitioners, consultants and decisionmakers on fiscal and tax policy in africa. Link global economic outlook 20152016 united nations.
We support the implementation of the african unions strategic vision at continental, regional, national and local levels by coproducing cuttingedge data and analysis with our african member states and partners, and facilitating an open dialogue on policies to accelerate that transformation. The global economic growth outlook has improved, but is clouded by policy uncertainty as. South africa economy gdp, inflation, cpi and interest rate. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme undp. There were bumps, of course, but the general trend was upwards and the interruptions. Despite a stabilisation of food prices and moderate wage growth, household. Key risks to this outlook include continued lack of international support, climatic shocks and slippage on policy reforms. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook.
The afds 2019 africa economic outlook shows africa s gross government debttogdp ratio reached 53% in 2017. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your finances. Burundi economic outlook 2016 the story behind the. According to african economic outlook, the african. Jan 17, 2016 a new economic report by focuseconomics paints a bleak picture for the south african economy in 2016 and 2017. The economy likely fell into technical recession in the fourth quarter of last year. Financial flows and tax revenues to africa, 200416, current usd billion. External financial flows and tax revenues for africa.
Tanzania economic outlook 2016 the story behind the. African economic outlook 2016 sustainable cities and structural. Pdf external financial flows and tax revenues for africa. Unless otherwise noted, data and projections presented in this regional economic outlook are imf staff estimates as of 25 march, 2016, consistent with the projections underlying the april 2016 world economic outlook. This site is powered by keepeek 360, digital asset. Economic outlook 2016 disclaimer this publication contains general information only, and none of deloitte touche tohmatsu limited, its member firms, or its and their affiliates are, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Countriesregions 2011 2016 countriesregions 2011 2016 countriesregions 2011 2016. Tax reform could boost subsahara revenue by 5% of gdp, imf. The ninth edition of the african economic outlook portrays a continent that is slowly emerging from the lingering effects of the worlds deepest and most widespread economic crisis in half a century. Data on south africa across agriculture,development,economy,education,energy,environment,finance,government,health,innovation and technology,jobs,society find, compare and share oecd data by country. Pdf despite falling commodity prices, africas external financial flows have. Commodity prices are expected to stabilize but remain low through 2017 figure 2. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years.
Inflation will peak by the end of 2016 before declining slowly in 2017. Ghanas december 2016 elections led to the transfer of political power to the opposition political party, the new patriotic party, which won the presidential election with 53. Africa in 2019 outlook summary report deloitte united states. The gross domestic product of south africa by 2012 was 77% larger in real terms relative to 1994, with the corresponding rise for the global economy having been 90%. Continued economic reforms and benign weather conditions are projected to improve growth prospects over the medium term and will ease the plight of the poor. Economic overview in brief the south african economy, which grew by an estimated 0.
African economic outlook is an annual reference bookjournal which focuses on the economics of most african countries. Africa in 2019 outlook welcome, introductions and context lwazi bam, chief executive, deloitte africa. The african economic outlook aeo was prepared by a consortium of three teams from the african development bank afdb, the oecd development centre and the united nations development programme. This annual report examines africa s performance in crucial areas.
It can be realised that since the advent of democracy in south africa, tax revenue and economic. The empirical results confirm that there is a negative relationship between taxes and economic growth in south africa. Africas economic growth continues to strengthen, reaching an estimated 3. Structural change and poverty reduction simulations between 2006 and 2016. The update also provides evidencebased analysis on an aspect of the south african. Despite falling commodity prices, africa s external financial flows have remained stable overall.
The increasing importance of quality development aid. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. This annual report examines africa s performance in. Oecd ilibrary external financial flows and tax revenues. Kenya has sophisticated entrepreneurship by regional standards but could increase its global footprint through increased investments in information technology. African economic outlook 2018 indiaenvironmentportal. The outlook for the domestic economy has worsened on the covid19 pandemic, we now forecast 0. Someone who you can work with, built on a relationship of trust and. This annual report examines africas performance in crucial areas.
Aug 08, 2017 the african economic outlook aeo 2017 which was published on monday 22 may 2017 by the african development bank indicates that rwanda recorded the most progress in africa in the fight against poverty since 2005, followed by ghana and liberia. Mobilization of tax revenues in africa africa growth initiative. Yearly data for south africa for the period 1981 2016 was used to develop the autoregressive distribution lag ardl approach. Nine years ago, when the african economic outlook project began, the world was in the midst of what seemed to be a robust growth path. An analysis of issues shaping africas economic future. National political economy analysis and fiscal space profiles of.
Global economic growth and outlook world economic outlook weo, april 2017, global economic growth is expected to rise from 3. Ongoing food price inflation, and its knockon effects on manufactured food prices, is pushing up. The african economic outlook 2016 presents the continents current state of affairs and forecasts its situation for the coming two years. Tanzania economic outlook 2016 the story behind the numbers. African economic outlook 2016 sustainable cities and structural transformation. This chapter analyses recent trends in external financial flows to africa and domestic revenue collection. The annual report highlights economic prospects and projections for the continent as a whole and for each of the 54 countries. This report presents the continents current state of affairs and forecasts its situation for the coming two years. Uganda economic outlook 2016 the story behind the numbers. The impact of taxation on economic growth in south africa. Mar 25, 2020 economic snapshot for subsaharan africa.
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