World Bank.
Economic growth in Sub-Saharan Africa is likely to reach more
than 5 percent on average in 2013-2015 as a result of high commodity
prices worldwide and strong consumer spending on the continent, ensuring
that the region remains amongst the fastest growing in the world --
according to the World Bank’s latest Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects.
In 2012, about a quarter of African countries grew at 7 percent or
higher and a number of African countries, notably Sierra Leone, Niger,
Cote d’Ivoire, Liberia, Ethiopia, Burkina Faso and Rwanda, are among the
fastest growing in the world.
The new World Bank report forecasts that medium-term growth prospects
remain strong and will be supported by a gradually improving world
economy, consistently high commodity prices, and more investment in
regional infrastructure, trade, and business growth.
Welcoming the new assessment that Africa continues to grow faster
than the global average, the World Bank’s Vice President called on the
need for faster progress in areas such as electricity and food in the
vulnerable areas of The Sahel and the Horn of Africa, and that
significantly more energy and agricultural productivity were needed to
raise the quality of life for Africans throughout the continent and
reduce poverty significantly.
