Madagascar

Since the end of the 2009–13 political crisis, Madagascar has experienced a slow economic recovery that is vulnerable to macroeconomic shocks, such as drops in nickel and cobalt prices, and climatic disasters, such as drought, hurricanes, and floods. Due to the slow rate of agricultural modernization, the primary sector regularly suffers from the adverse effects of climate change. In 2014–16, the economy grew a relatively modest 3.5% a year. Since then, economic performance has been encouraging, with real GDP growth of 4.2% in 2016 and 2017. Driven by the secondary and tertiary sectors, real GDP growth is projected to be 5.2% in 2018 and 6% in 2019.