The African Development Bank (AfDB), the OECD Development Centre and the United Nations Development Programme (UNDP) will release their joint African Economic Outlook (AEO) 2017 Report on Monday 22 May 2017.
The flagship report will be presented on the first day of the 52nd AfDB Annual Meetings which will take place from May 22-26 in Ahmedabad, India.
The 2016 Africa Economic Outlook Report states “Africa’s economic performance held firm in 2015 amid global headwinds and regional shocks. The continent remained the second fastest growing economic region after East Asia.
According to the report’s prudent forecast, the continent’s average growth is expected at 3.7% in 2016 and pick up to 4.5% in 2017, provided the world economy strengthens and commodity prices gradually recover”.
The authors further state that ‘lack of urban planning leads to costly urban sprawl. In Accra, Ghana, for example, the population nearly doubled between 1991 and 2000, increasing from 1.3 million to 2.5 million inhabitants at an average annual growth rate of 7.2%. During the same period, the built up area of Accra tripled, increasing from 10 thousand hectares to 32 thousand hectares by an average annual rate of 12.8%’.