Africa
Article Abstract:
Drought and war have affected around a dozen countries in sub-Saharan Africa which have suffered food shortages. The situation is more serious where war has disrupted production. South Africa is likely to see a drop in economic growth to 2.5% for 1997 from 3% for 1996, and inflation appears to have peaked but could stay high due to currency depreciation. South Africa's current account is improving. Meanwhile, civil war has affected the Algerian economy, though economic growth is forecast at 5% for 1998. Morocco will hold elections in 1997. Egypt is seeking to increase investment through changes in the law.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
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Africa
Article Abstract:
Sub-Saharan Africa has favorable economic prospects for 1997 due to policy reform and moves to foster economic stability. The South African economy has been hit by a drop in the price of gold which affects exports and employment. Drought resulting from El Nino could also affect the economy. Meanwhile, Algeria is likely to see economic growth of 4% in 1997 and 1998. Egypt looks set to carry out economic reforms after a cabinet reshuffle. Moroccan economic growth looks set to stagnate in 1997 and may contract, and Tunisia forecasts 6% economic growth fro 1997 to 2000.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Africa
Article Abstract:
Sub-Saharan Africa has been affected by a military coup in Sierra Leone whic dominated a summit of the Economic Community of West African States (ECOWAS) in 1997. ECOWAS has been unable to make much progress on economic initiatives, partly due to its weak finances. Meanwhile, South Africa's economy could be affected by the El Nino current in 1998. In North Africa, Egypt is attracting interest from international investors. Morocco is seeking sovereign ratings from Standard and Poor's and Moody's, while Tunisia has used a Yankee bond to raise $400 million.
Publication Name: Barclays Economic Review
Subject: Business, international
ISSN: 0956-5574
Year: 1997
User Contributions:
Comment about this article or add new information about this topic: