Africa's macroeconomic performance and prospects: [Essay Example], 462 words GradesFixer
exit-popup-close

Haven't found the right essay?

Get an expert to write your essay!

exit-popup-print

Professional writers and researchers

exit-popup-quotes

Sources and citation are provided

exit-popup-clock

3 hour delivery

exit-popup-persone
close
This essay has been submitted by a student. This is not an example of the work written by professional essay writers.

Africa's Macroeconomic Performance and Prospects

Download Print

Pssst… we can write an original essay just for you.

Any subject. Any type of essay.

We’ll even meet a 3-hour deadline.

Get your price

121 writers online

blank-ico
Download PDF

Africa’s growth prospects do appear favourable in the medium-term driven by continued prudent macroeconomic management and strong domestic demand, underpinned by increasing public and private investment especially in infrastructure in most countries. Growth is expected to reach 3.6% in 2018 and 3.8% in 2019.

However, slow growth recovery in advanced and emerging economies and tightening of financial markets in the developed economies may continue to negatively affect export demand and curtail FDI inflows to Africa. Public debt levels are sustainable, but remain high, calling for the need to invest funds borrowed into productive sectors to generate returns that could allow timely repayment and enhance the countries’ growth prospects. Some countries may also face problems in repaying their debts as they are caught in an environment of low growth prospects, widened fiscal deficits, weaker currencies, and lower export revenues.

Given the above current economic outlook on the continent, promoting industrialization in Africa should continue to meet the requirements of private businesses, in particular, SMEs that are the backbone of the private sector across the continent. The continent undoubtedly needs to promote “Made in Africa” in which the private sector, in particular SMEs, has a crucial role to play.

Africa’s industrial policies should be coherent with other policies including trade policies to promote value addition and economic diversification. These policies could include ‘smart protectionism’, of which nascent industrial sectors can develop productivity through learning-by-doing, technology upgrade, support from leading firms and reducing tariffs on imported inputs to industrial sectors, as well as reducing barriers to imports of services that are inputs to the industrial sector. The industrial policies should also pay attention to developing producer services, such as design, marketing and branding that promote the “Made in Africa”.

Mobilizing finance to support the private sector in Africa cannot be overstated. Promoting financial markets development, that harnesses domestic resources for long-term development, is accessible in an inclusive way to the range of economic actors would be a significant contribution to improving the capacity of Africa’s private sector to participate in Africa’s industrialization and value chains development. At the regional and continental levels, harnessing cross-border financial flows from Africa’s Diaspora that remains a consistent source of external inflows could be crucial for the continent’s development. Initiatives to enhance the use of remittance channels, cutting the associated costs and mobilizing remittances for investment purposes, could help channel the Diaspora’s finance into industrialization process of African economies.

It is also important to stress that our continent will have to actively promote all viable means of domestic as well as foreign resource mobilization. This includes harnessing excess liquidity at banking sector for development (particularly in long- term development projects), stemming illicit financial flows out of Africa, tackling tax evasion, and challenging transfer mispricing.

Remember: This is just a sample from a fellow student.

Your time is important. Let us write you an essay from scratch

100% plagiarism free

Sources and citations are provided

Find Free Essays

We provide you with original essay samples, perfect formatting and styling

Cite this Essay

To export a reference to this article please select a referencing style below:

GradesFixer. (2018). Africa’s macroeconomic performance and prospects. Retrived from https://gradesfixer.com/free-essay-examples/africas-macroeconomic-performance-and-prospects/
GradesFixer. "Africa’s macroeconomic performance and prospects." GradesFixer, 19 Nov. 2018, https://gradesfixer.com/free-essay-examples/africas-macroeconomic-performance-and-prospects/
GradesFixer, 2018. Africa’s macroeconomic performance and prospects. [online] Available at: <https://gradesfixer.com/free-essay-examples/africas-macroeconomic-performance-and-prospects/> [Accessed 19 September 2020].
GradesFixer. Africa’s macroeconomic performance and prospects [Internet]. GradesFixer; 2018 [cited 2018 November 19]. Available from: https://gradesfixer.com/free-essay-examples/africas-macroeconomic-performance-and-prospects/
copy to clipboard
close

Sorry, copying is not allowed on our website. If you’d like this or any other sample, we’ll happily email it to you.

    By clicking “Send”, you agree to our Terms of service and Privacy statement. We will occasionally send you account related emails.

    close

    Attention! this essay is not unique. You can get 100% plagiarism FREE essay in 30sec

    Recieve 100% plagiarism-Free paper just for 4.99$ on email
    get unique paper
    *Public papers are open and may contain not unique content
    download public sample
    close

    Sorry, we cannot unicalize this essay. You can order Unique paper and our professionals Rewrite it for you

    close

    Thanks!

    Your essay sample has been sent.

    Want us to write one just for you? We can custom edit this essay into an original, 100% plagiarism free essay.

    thanks-icon Order now
    boy

    Hi there!

    Are you interested in getting a customized paper?

    Check it out!
    Having trouble finding the perfect essay? We’ve got you covered. Hire a writer

    GradesFixer.com uses cookies. By continuing we’ll assume you board with our cookie policy.