Growth but not change

A report of the AUC, African Union Commission, entitled '' Dynamics of Development in Africa 2018 '' on '' Growth, Employment and Inequality '', emphasizes '' the importance of accelerating the Structural Transformation of African Economies. "

Africa's economic growth has not been strong enough to bring about" fundamental changes, "according to the first edition of the Commission's annual economic report. African Union (AUC), produced in collaboration with the OECD Development Center

'' Since the beginning of the century, Africa has been the second fastest growing region in the world after Asia, with an average annual gross domestic product (GDP) growth rate of 4.7% between 2000 and 2017. Nevertheless, this growth has not been enough to trigger substantive changes, "notes the OECD. in a communication quoting this report.

"Growth is indeed irregular. Thus, during the 2016-20 period, only three out of the continent's fifty-five countries are expected to achieve the target of an average annual growth rate of more than 7% set by Agenda 2063 of the World Bank. 'African Union', says OECD

Shows that this growth '' did not create enough decent jobs ''; today 282 million people are in "precarious jobs."

"At this rate, 66% of jobs will remain vulnerable in 2022, the report predicts. This rate is above the target of 41% for 2023

According to the OECD, the report also highlights the need to increase productivity, citing a "significant delay" In 1965, growth in Africa has a smaller effect on reducing inequalities and improving well-being than elsewhere in the world. world. If the Gini coefficient of the African continent had dropped by an additional 7 points to 35 – that is, the current level in Asia – the growth would have taken 130 million more people out of poverty for the 1990- 2016. '

Despite a decline in extreme poverty, it still affects 35% of the population on the continent, or 395 million people. . The continent's population is growing very rapidly. A quarter of the world's population will be African by 2050, according to forecasts.

However, African growth should reach 4% per year between 2018 and 2020.

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