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1.7 Conclusion: Economic Report on Africa 2007

Written by: United Nations Economic Commission for Africa

Article Overview: Overall, the medium-term outlook for the world economy remains modest.

1.7 Conclusion: Economic Report on Africa 2007

Overall, the medium-term outlook for the world economy remains modest. In addition,
global imbalances remain large and weigh heavily on growth prospects. However,
there remain some risks for African countries arising from competition from
Asia and the weakening of housing markets in advanced economies which could
reduce demand and weaken commodity prices. Thus, African countries need to
observe these international developments carefully. Measures to reduce vulnerability
to external shocks, to increase diversification and to strengthen domestic demand are
crucial to sustaining the recent growth recovery in Africa.

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Article Tags: African countries, commodity prices, growth prospects, medium term outlook



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