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Market Brief - Africa Economic Financial Brief 10-14 June 2013
Despite global economic uncertainties, African economies are set to continue growing at sustained rates in 2013 and 2014, although regional disparities will remain. In 2012, the African continent as a whole recorded an average growth rate of 6.6% compared with 3.5% in 2011. This strong performance was in part due to the Libyan economy which grew by about 95% in 2012 from a negative figure of 60% in 2011 following the civil war. As indicated by figure 1, in 2013 and 2014 Africa’s GDP is projected to grow by as much as 4.8% and 5.3%, respectively. The favorable mid-term economic outlook for Africa will be mainly driven by improvement of global economic outlook and enhanced macroeconomic stability in African countries. In addition, the relative stabilization of the situation in North African countries and in other areas of conflicts such as Mali will further consolidate the economic performance of the continent.