17 Jun 2010
New York, USA
New York, USA
Launch & Panel Discussions of: African Economic Outlook 2010Global Recession, MDGs, Africa & Economic Growth
This year?s edition of the AEO finds Africa?s economies weakened by the global recession and at the same time under pressure to make additional efforts to achieve the Millennium Development Goals. The world economic crisis brought a period of high growth in Africa to a sudden end. Average economic growth was slashed from about 6% in 2006-2008 to 2.5% in 2009 with per capita GDP growth coming to a near standstill. The global crisis of 2009 had its strongest effect on southern Africa, where growth was slashed (from the average over the preceding three years) by almost 8 percentage points to negative growth of around 1%.
Public Resources, Taxation & Aid
While Africa is on a path to recovery, buoyed by the strengthening of global trade and the rebound of commodity prices, there is a risk that growth remains too low to significantly reduce unemployment and poverty. It is against this backdrop that the 2010 AEO explores how public resources can be better mobilised for development through more effective, efficient and fairer taxation. This issue is particularly important given the uncertainties about future export revenues and unstable, unpredictable inflows of Foreign Direct Investment and Official Development Aid. The study includes an analysis of practices that erode the existing tax base such as the excessive granting of tax preferences, insufficient taxation of extractive industries and an inability to fight abuses of transfer pricing by multinational enterprises.
Publication Launch Event - Regional Specialists
Regional specialists from the United Nations, OECD Development Centre, the African Development Bank and Academia will provide an up-to-date picture of the state of economic, social and political affairs across Africa, and address:
Africa?s economic performance in 2009/10 and prospects for recovery from the global economic crisis
Challenges to increasing the African tax base including transfer pricing by multinationals, excessive granting of tax preferences and inefficient taxation of extractive industries
How more efficient, fair and effective taxation can generate needed development financing
Economic independence of African countries as several nations celebrate 50 years of independence from colonialism
Progress towards meeting the Millennium Development Goals (MDGs)
The event will be moderated by Mr. Tariq Banuri, Director of the Division for Sustainable Development and will include panel presentations and interactive discussions.