Tunis: Depending on the political will of African Governments, the year of 2015 holds an opportunity for the African continent to achieve progress in economic growth, said African Development Bank President Donald Kaberuka.
Kaberuka added, “It will depend on the policy stance of the countries, and the choices that they make or do not make.” The President was addressing diplomats accredited to the Bank’s host country, Côte d’Ivoire, the Bank’s senior management staff, and local and international media at an annual luncheon in Abidjan.
Although 2014 presented many challenges, including headwinds in the global economy, slowdown in the large emerging markets, and sharp declines in commodity prices, Africa remained resilient, maintaining its dynamism, at 5.5 percent growth, Kaberuka said.
He said, “We know that given our demographics, 5 percent growth is strong but not stellar. It is 7 percent we must target.” He said the outlook would even be better if faster progress was made in the areas of integration, especially removal of non-tariff barriers, and infrastructure development. Those parts of the continent making faster progress on both areas are able to see higher growth, even when commodity prices are weakening.”
