The 2010 African Economic Outlook finds the continent reeling from the effects of the world’s deepest and most widespread recession in half a century. Many countries are at risk of falling far off track to achieving the Millennium Development Goal of halving extreme poverty and hunger by 2015. Just how hard was the region hit? What are the prospects for recovery? Insights and answers in this edition including an in-depth study of Taxation and Aid in Africa.
Now in its ninth year, the AEO is the only report on Africa which applies a common analytical framework to every country, every year. This allows for a comparison of economic prospects at the regional, sub-regional and country levels.
Produced by the OECD Development Centre, the African Development Bank and the United Nations Economic Commission for Africa, the AEO is the essential reference on Africa. It benefits from the support of the European Commission.
Low Income Countries in Africa still collect less than 15% of GDP in taxes while Upper Middle Income countries collect 35%, almost on par with OECD countries.
Africa is one of the most undiversified regions in the world: approximately 80% of its exports are based in oil, minerals and agricultural goods..
Resource-related taxes have increased from 5 to 15% of GDP over the last 15 years. In Equatorial Guinea alone,over 95% of taxes collected come from natural resources.
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80% of the African countries covered in the AEO registered positive growth in 2009 as compared to only 10% of OECD countries..