CCTV.com - CNTV English - CCTV News

WEF Forum: African economic growth "low quality"

05-06-2011 14:11 BJT

Watch Video

Play Video

The World Economic Forum on Africa is being held in the South African capital of Cape Town. According to the Africa Progress Panel of Kofi Annan, the former UN chief, the continent is rebounding better than most regions from the global recession. The IMF is also optimistic, predicting that Africa's GDP will grow by 5.5 percent this year, and by 5.8 percent 2012.

According to African Development Bank, the continent's middle class is growing at a compounded rate of around 3 percent per year. The middle class now accounts for 300 million of the region's one billion population. But, in an assessment released at the Forum, Annan's panel called the growth "low quality." The report said that the region is still over-dependent on the export of raw materials, and that not enough trade is happening between African countries.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program