East and West African Gas, Oil and Iron Resources Propel Growth Rates Above 6%
Posted on November 06, 2012 at 01:59 AM EST
JOHANNESBURG--November 6, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Sub-Saharan Africa has survived the global downturn in relatively better shape than many other regions, particularly those in the West. Africa's growth recovery since 2000, which was the longest expansion since countries became independent from colonial rule, has been based on improved macroeconomic policies and political stability and, says the World Bank. The prospects of sustained growth are strong. Relatively resilient domestic demand and robust export growth in countries with new mineral discoveries in recent years are expected to underpin economic growth in 2012.