AU Report: The East African economy is more resilient than the other regions

The East African region has experienced more resilient economic growth than other parts of the continent in recent decades, revealed a report released by the African Union (AU) and Africa & # 39; s Development Dynamics 2018, released Wednesday at the AU headquarters in the Ethiopian capital, Addis Ababa, reported contrasting performance from different regions Africa 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 annum 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 level of poverty by 12% during the However, the report indicates the main challenges faced in other parts of the continent., including the Central African region, where the number of jobs in the country is high. Formal economy has declined since 2015.

It also revealed that inequality in Africa is the most prevalent in southern Africa, which in terms of income contains six out of ten According to the report, in addition to underemployment and vulnerable employment that characterize most African labor markets, some North African countries and in southern Africa are facing high structural jobs

. congratulated some African countries for their strategic partnership with China and other emerging economies.

"The decision of some countries to increase investment in infrastructure The report indicates, among other things, that the favorable trend of commodity prices, strong domestic demand, growth in domestic demand and the growing number of business partnerships with China, India and other emerging countries has proven to be the most important, as progress in pursuing macroeconomic policies and diversification strategies for national economies has been a major driver of the recent growth of the continent, which is expected to reach 4% per year between 2018 and 2020.