Africa’s annual growth rate should be in double digits – Ethiopian economist

Ambassador Newai Gebreab, Chief Economic Adviser to the Ethiopian Prime Minister Meles Zenawi, is urging African countries to set very high economic growth targets for themselves in order to get out of poverty.

The continent’s annual growth is said to be at five to six percent.

At the 43rd meeting of the NEPAD Steering Committee held in Addis Ababa January 25, 2012, Ambassador Gebreab said Africa cannot depend on the rest of the world to escape being the world’s poorest continent.

“It is very important that we set our targets as high as possible. Africa’s growth rate should be in double digits, above the five or seven percent annual growth it is currently recording,” a NEPAD statement quoted Mr. Gebreab as saying.

In the same meeting, Prof. Emmanuel Nnadozie, a director in charge of the Economic Development and NEPAD Division at UN’s Economic Commission for Africa (UNECA) said the continent’s required growth must be sustainable, be able to create jobs for African youths and preserve the environment.

But to ensure such a robust expansion, Prof Nnadozie argues that Africa would require a strong and visionary leadership.

By Ekow Quandzie