Lion economies A nickname given to Africa's growing economies, which had a collective GDP of $1.6 trillion in 2008, close to Russia's or Brazil's. Key sectors contributing to Africa's collective GDP growth include natural resources, retail, agriculture, finance, transportation and telecommunications. Improvements in political stability and economic reforms have aided growth. (For more, see: Why You Should Pay Attention To Africa Right Now.) Breaking It Down: The International Monetary Fund estimates that sub-Saharan Africa's economies will grow by 5.4% in 2014 and by 5.8% percent in 2015. Nigeria's economy, Africa's largest...
Related to "Lion economies" | Centrally Planned Economy A centrally planned economy is one where the government controls the country's supply and demand of goods and services. This type of economy is generally associated with... | |
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