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Africa’s Pulse-October 2013

An analysis of issues shaping Africa’s economic future

- Economic prospects for Sub-Saharan Africa remain strong, but growth is vulnerable to a sharp decline in commodity prices
- The region’s progress on reducing poverty has been slow, hindered by high inequality
- Faster reduction in poverty will require growth with equity

Summary

- Global economic activity remains subdued, and despite signs of strengthening in high -income countries, significant downside risks persist.
- Economic activity remains strong in much of Sub-Saharan Africa, underpinned by robust domestic demand.
- The economic outlook for the region is positive, although the region is vulnerable to both a sharp decline in commodity prices and the fragility of the global economy.
- More than a decade of growth has helped to lower poverty, but the twin goals of ending extreme poverty and boosting shared prosperity call for a sharp ramping up of effort.
- A low growth elasticity of poverty means that growth alone will not suffice to rapidly reduce poverty in the region. Accelerating Africa’s poverty reduction will also require more inclusive growth processes and tackling inequality.

The World Bank. This document was produced by the Office of the Chief Economist for the Africa region

Publié le 9 octobre 2013

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