Rate of Growth in Africa - 782 Words

In Africa, the rate of growth has been greatly affected by the political, economic and social changes. This is an analysis of the current events and how economic, political and social changes can affect growth in this region. In terms of economy, Africa is said to lag behind the other world regions simply because most of the countries within it are very poor and underdeveloped. These countries depend on loans from developed countries in order to run their economic activities. The GDP is anticipated to increase by 6% between the years 2013 to 2023 if it went on at the same rate. Growth has been experienced throughout the continent, with over a third of sub-Saharan Africa countries having 6% and another 40% having 4% to 5% growth rates. The current GDP growth of Africa is 5.16% with the total capita being US$1,200 per capita. 36.2% of people in Africa earn less than US$ 1 in a day which means they live below the poverty line. The economy consists of trade, industry, agriculture, and human resource (OECD, Africa, 2008). If the economy of Africa falls, the rate of growth will be very minimal. The drop in the economy means that there will be less money generated within the internal income sources. This means that the countries cannot get enough cash to make major developments such us infrastructure, education, health and so on. The countries will have to turn back excessive borrowing from the developed countries (Yansanà ©, 1996). If the African economy rises, the growth rate willShow MoreRelatedThe Long Term Potential Growth Rate Of South Africa Essay1006 Words   |  5 PagesThe long-term potential growth rate of South Africa under the current policy environment has been estimated at 3.5%.Per capita GDP growth has proved mediocre, though improving, growing by 1.6% a year from 1994 to 2009, and by 2.2% over the 2000–09 decade, compared to world growth of 3.1% over the same period. 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Before I go on about the BRICS countries of the future, I will start with today’s BRICS nations why they are in BRICS. First, the B, Brazil. Brazil has sustained a high GDP growth rate as its Gross Domestic Product has passed the United Kingdom, but this is a small part of the equationRead MoreAbstract. The Research Examines The Social, Economic And1704 Words   |  7 Pagesof colonialism in West Africa. A critical view of the activities carried in the study to explain the social, economic and political effect of colonialism, and a qualitative of the growth rate of the West Africa countries were examined. The study therefore concludes that colonialism greatly had an impact in the growth of the countries in the selected West Africa countries. 1.0 Introduction Our research study will focus more on the effect of colonialism in Western part Africa by examining the social