African Economic Outlook 2009 Launched in Dakar-Says Global Economic Crisis Dims Africa’s Prospects

Jun 08, 2009
The prevailing global economic crisis has seriously affected African economies with GDP growth falling by more than half from a projected 5.7% to 2.8% in 2009, according to “African Economic Outlook”, an annual publication launched on Sunday, 10 May 2009, in Dakar, Senegal, ahead of the Annual Meetings of the African Development Bank (AfDB) Group. The book, jointly published by the African Development Bank, the Organization for Economic Cooperation and Development (OECD), and the UN Economic Commission for Africa, says the crisis has literally diminished consistent economic growth recorded by many African countries in the past five years.