Natasha Chamba, Business Reporter
African Development Bank AfDB announces a 4 percent increase in African domestic GDP this year, which is expected to accelerate 4 to 1% in 2020.
With regard to the 2019 economic forecast, the bank stressed that the continent forecasts growth forecasts as a result of the recovery of the overall economic performance.
"African growth forecasts remain stable, but the macroeconomic and improved employment results demand an increase in the industry," says a part of the report.
"Continues to recover African economic performance and GDP growth (Gross Domestic Product) is expected to accelerate this four-quarters in 2019 and 4.1% in 2020".
A report published every year since 2003 is a bank auction document that offers titles on African economic performance and forecasts.
Africa's economic outlook breaks down a significant lack of knowledge about African economies, using regular, rigorous and comparative analysis.
2019 reports are African macroeconomic performance and forecasts, employment and strong dynamism, and the integration of African economic opposition.
Most significant, the report identifies five commercial policy policies, with the objective of bringing Africa's total profit to 4.5 per cent of GDP or $ 134 million per year.
Policies analyzed are the elimination of all applied African bilateral tariffs, with the original rules being simple, flexible and transparent, eliminating barriers to non-regulatory goods and services and negotiating with other developing countries, reducing their rates and non-regulatory rules by 50 percent.
In the review of the report, the director of research and forecasts of macroeconomic management of AfDB, Hanan Morsy, said that despite the rising national debt in Africa, the systemic risk of the debt crisis was not.
"In the current rate of labor force growth, Africa needs to create 12 million new jobs annually to increase unemployment.
"A country-based industrialization effort is required," he said.
Last year, AfDB contributed $ 4.1 million to the African Development Fund in Zimbabwe, and was used for the renovation of three state companies.