The UN Economic Commission for Africa (UNECA) has released its Economic Report on Africa 2012. It concluded that since the beginning of this century, African countries have shown strong economic growth owing to improved economic management, a generally hospitable international environment and rising prices for their commodity and other strategic minerals.
Still, UNECA warns that African countries should not rest on their laurels. The sources of Africa's growth have changed very little over the years. Agriculture and natural resources remain the main drivers and African economies have not diversified in any meaningful way. Moreover, job creation has not matched growth and employment needs.
The report is divided into the following chapters:
1. Developments in the world economy and implications for Africa;
2. Economic and social developments in Africa and prospects for 2012;
3. Africa as a pole of global growth;
4. Unleashing Africa's development capacity; and
5. Mobilizing resources for structural transformation.
Click here to access the entire report.