Central Africa Economic Outlook 2019: macroeconomic performance and prospects
In 2018, the GDP growth rate in Central Africa accelerated slightly, to 2.2 percent from 1.1 percent in 2017, but remained below the African average of 3.5 percent. Central Africa’s growth was driven primarily by the rebound in raw material prices, principally oil. Real GDP is projected to grow by 3.6 percent in 2019 and 3.5 percent in 2020 if Central Africa takes advantage of global economic growth, rising oil prices, macroeconomic reforms, and natural resources. Yet regional integration is clearly a path to structural transformation that, in turn, should reduce factors of fragility in the region. In brief, fragility is closely linked to the poor governance of the region’s natural resources, recurrent security issues, and political instability. Strengthening the resilience of the countries in the region is essential to achieving inclusive growth.