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Title2016 MEFMI Combined Forum. Accelerating Economic Growth in the MEFMI Region: Drivers, Prospects and Policy Implications
AuthorMEFMI
SubjectEconomic Growth
Date of Publication201601
PublisherMacroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
Number of Pages52 pages
LanguageEnglish
Geographical CoverageAfrica
KeywordsFINANCING AFRICAN INFRASTRUCTURE: NEEDS AND SOLUTIONS, INNOVATION IN GUARANTEE PRODUCTS AND FISCAL ASPECTS, PUBLIC PRIVATE PARTNERSHIPS
AbstractInfrastructure bottlenecks have been identified as one of the major impediments to SSA region’s development and its quest to achieve a strong, sustained and shared growth. The region consistently lags behind on every measure of access to infrastructure services. The World Bank’s 2008 Africa Infrastructure Country Diagnostic (AICD) study estimates Africa’s total infrastructure financing needs at US$93 billion a year (or 15 percent of the region’s GDP). Only US$45 billion of this gap is financed, leaving a deficit of about US$48 billion per annum. While the infrastructure funding gap is huge, public finances have remained under pressure. The budgets of major donors that traditionally supported aid flows to the Africa region have not recovered from the 2008 global financial crisis and more recently, the Eurozone sovereign debt crisis. This makes Official Development Assistance (ODA) increasingly volatile and uncertain as a source of funding. Against this background of fiscal constraints, PPPs are emerging as mechanisms to help governments address burgeoning infrastructure bottlenecks
Copyright HolderMacroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
Copyright URLhttp://www.mefmi.org
Filesize2771498 MB
File FormatPDF
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