masabahouse (masabahouse) wrote,

Africa's GDP growth could reach 7 pct in 2011: AfDB

CAPE TOWN (Reuters) - Africa's real gross domestic product growth could reach about 7 percent in 2011 from a forecast of about 5.5 percent growth for 2010, the president of the African Development Bank (AfDB) said on Sunday.

"When we look at this year 2010, I totally concur with the numbers from the International Monetary Fund... (of) around 5.5 percent of real GDP growth and going into 2011, perhaps 1.5 percent more," AfDB president Donald Kaberuka said.

Kaberuka was speaking at the AfDB's Committee of 10 (C10) meeting. The C10, consisting of African finance ministers and central bank governors, was formed to develop an African response to the global financial crisis after a meeting in November 2008.
He told journalists separately that 7 percent growth was the least that Africa needed.

For a full report read Reuters:
Tags: afdb's, africa, gross domestic product, growth, kiberuka

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