New Continental Report Welcomes Economic Performance of East Africa – Xinhua

ADDIS ABABA, July 12 (Xinhua) – The East African region has experienced more resilient economic growth than other parts of the continent in recent decades, a report released by the African Union (AU) and Africa's Development Dynamics 2018, which was released Wednesday at the AU headquarters in the Ethiopian capital Addis Ababa, reported mixed performance different African regions in terms of growth, jobs and inequalities.

According to the report, the East African region has experienced stronger and more resilient economic growth than other parts of the continent, exceeding 4% per year since 1990. The report notes also the economic trajectory of East Africa "

The first edition of the Africa & # 39; s Development Dynamics report on Wednesday also revealed that the region of Africa East had succeeded in reducing extreme poverty by 23% between 1990 and 2013, followed by West Africa which is able to reduce the poverty level by 12% During the period under review

The report, however, indicated the main challenges faced in other parts of the continent, including the African Region Center, where the number of jobs in the formal economy has decreased since 2015.

It also revealed that inequality in Africa is the most prevalent In Southern Africa, which in terms of income contains six of the ten most unequal countries in the world. According to the report, underemployment and vulnerable employment characterize most African labor markets. Some North and South African countries face high structural jobs, according to the report

. for their strategic partnership with China and other emerging economies.

"The decision of some countries to increase investment in infrastructure and growing numbness The report indicates, among other things, that the favorable trend of commodity prices, strong domestic demand, progress in pursuing these business partnerships, with China, India and other emerging countries, is sound macroeconomic policies and diversification strategies of national economies have been the main drivers of growth the continent, which is expected to reach 4% per year between 2018 and 2020.