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International economists say they are hopeful about Africa’s economy. They say economic growth on the continent will increase by as much as five or six percent over the next two years. That would be the continent’s highest growth rate since the worldwide economic recession in 2009. Economic experts say the growth is partly because governments have established policies inviting to foreign investors. They say increased trade among African nations is also growing the continent’s economy. And the experts say the growth is widespread. They made the observations in The African Economic Outlook 2014 report. The African Development Bank, the United Nations Development Program, and the OECD Development Center produced the report together. Angela Lusigi is a UN Development Program economist and policy advisor for Africa. She says many people think the growth in Africa is driven by mineral wealth only. But, she says, African countries that are not rich with resources also show economic growth. The report says Africa’s top foreign trade partner is Europe. About 40 percent of African trade is with European nations. The report says African countries traded $81 billion worth of goods among themselves in 2012. The report says East and West Africa are leading the economic expansion. The report says low inflation, especially in energy and food prices, is helping economic growth in Africa. And it says African nations have established policies to cut spending and improve tax collection.
