UNDP South-South Cooperation to Elections Support National Launch of the 2013 Africa Economic Outlook Report: Structural Transformation and Natural ResourcesOct 4, 2013
The United Nations Development Programme (UNDP) partnered with Africa Development Bank (AFDB), the OECD Development Center and the Economic Commission for Africa (ECA) in production of the 2013 Africa Economic Outlook Report which was launched on 3rd October 2013 in Dar-es-Salaam. Present at the occasion were Government representatives, members of the Diplomatic Corps, Academia, Media, International organization representatives, and members of the UN family.
With the special theme on Structural Transformation and Natural Resources’’ the report highlighted that Africa’s agricultural, mining and energy resources could boost the continent’s economic growth and pave the way for a breakthrough in human development. In particular, the Report highlights the state of play in African countries with respect to structural transformation, and what policy instruments are needed to harness the continent’s diverse natural resources for longer and sustained inclusive growth. According to the report, Africa’s economy is projected to grow by 4.8 percent in 2013 and 5.3 per cent in 2014 while Tanzania has recorded an impressive performance in economic front.
In his opening remarks, The UN Resident Coordinator and UNDP Resident Representative Alberic Kacou said that the report comes at a time when the global economy is still struggling to come to terms with shocks and their spillover effects. He added that natural resources endowments in Africa should provide a window of opportunity to transform itself from a low productive agriculture based economy to a more diversified and productive resource based economy that guarantees better lives for its people.
The report shows further that growth has been accompanied by insufficient poverty reduction, persisting unemployment, increased income inequalities and in some countries, deteriorating levels of health and education. In his remarks, Finance Minister, Hon. William Mgimwa noted that Tanzania’s economy had undergone major structural changes in the past two decades with the extractive sector emerging as the leading frontier sector.
''We have made a progress but challenges still remain. Many people still dream of getting out of poverty and begin to share benefits of the recent economic growth’’.Explained Mr Mgimwa
The report is an annual publication which main objectives are to broaden the knowledge base on African economies and to offer valuable and evidence based support for policymaking, investment decisions, and donors' interventions.
For a full report click here