ECA urges African countries to transform their economies
At a one-day event on the theme Accelerating Industrialization for Boosting intra African Trade at the headquarters of the African Union this week, the Deputy Executive Secretary of the Economic Commission for Africa (ECA), Mr. Abdalla Hamdok, urged African countries to transform the structure of their economies to effectively address development challenges. In a statement delivered to representatives from international organizations and African governments, Mr. Hamdok said that the renewed focus on industrialization of African economies comes against the backdrop of relatively good economic growth performance over the past decade. However, “it has been driven mostly by non-renewable natural resources and high commodity prices, indicating that the current pattern of growth may not be sustainable.” He also noted that de-industrialization has been a key feature of Africa’s recent growth experience, and that the share of manufacturing in Africa’s gross domestic product fell from 15 percent in 1990 to 10 percent in 2008.
| Format: | Press release biblioteca |
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| Language: | eng |
| Published: |
2012-12
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| Online Access: | https://hdl.handle.net/10855/32067 |
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