Strategic plan for PAAP: 2008-2013 (Part II)

Something decidedly new is on the horizon in Africa, something that began in the mid-1990s. Many African economies appear to have turned the corner and moved to a path of faster and steadier economic growth. Their performance over 1995–2005 reverses the collapses over 1975–85 and the stagnations over 1985–95. And for the first time in three decades, African economies  are  growing  with  the  rest  of  the  world.  Average  growth  in  the  sub-Saharan economies was 5.4 percent in 2005 and 2006. The consensus projection is 5.3 percent for 2007 and 5.4 percent for 2008. Leading the way are the oil and mineral exporters. But 18 non- mineral economies, with more than a third of the sub-Saharan African people, have also been doing well. Global economic growth has been fairly steady over the last 10 years-at 3.2 percent.