Some word-bites from the World Bank Africa’s Pulse APRIL 2013 | VOLUME 7

Below are some bites from the 2013 Pulse…

“Despite the global economic slowdown in 2012, growth in Sub-Saharan Africa remained robust supported by resilient domestic demand and still high commodity prices. In 2012, the region’s growth was estimated at 4.7 percent ..

Consumer spending, which accounts for more than 60 percent of Africa’s GDP, remained strong in 2012.

This trend was driven by declining inflation, which fell from 9.5 percent in January 2012 to 7.6 percent in December 2012; improved access to credit, for example in Angola, Ghana, Mozambique, South Africa, and Zambia; lower interest rates–for every interest rate hike there were three cuts; and a rebound in agricultural incomes, thanks to more favorable weather conditions in countries such as Guinea, Mauritania and Niger, which all experienced better rains compared with the 2010/2011 crop year; and the steady remittance inflows, which are estimated at $31 billion in 2012 and 2011.

Increased investment flows are supporting the region’s growth performance. In 2012, for example, net private capital flows to the region increased by 3.3 percent to a record $54.5 billion; and foreign direct investment inflows to the region increased by 5.5 percent in 2012 to $37.7 billion”.

The full report can be accessed
HERE.

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