The global economic crisis offers a window of opportunity for African nations to make headway in promoting employment-intensive economic growth, a new United Nations report says.
“The recession should work as a wake-up call for Africa to deal with its vulnerabilities and introduce further reforms to promote growth, but more particularly employment creation to promote social development in the region,” said Rob Vos, director of development policy at the U.N. Department of Economic and Social Affairs, during the May 18 launch of the report.
The Economic Report on Africa 2010, published by the U.N. Economic Commission for Africa and African Union Commission, recommends that African countries improve their efforts in infrastructure and human capital, mobilize domestic resources, institute market reforms, provide incentives to support private sector employment, and carrying out efforts to increase productivity and incomes in the informal sector.
Traditional sources of African growth such as exports of raw commodities, foreign investment and development aid are unpredictable, the report says.
