Commerzbank Study: Africa's Economies Continue to Gain Ground

Commerzbank Study: Africa's Economies Continue to Gain Ground PR Newswire FRANKFURT, Germany, June 27, 2012 FRANKFURT, Germany, June 27, 2012 /PRNewswire/ -- Countries benefit from the commodity boom and political stability Growth impulses above all in the Sub-Saharan region After the crises of the past, the economies of many African countries are clearly heading for growth. Political and economic stability has increased above all in the countries of the Sub-Saharan region. "Medium-term growth potential in Sub-Saharan Africa ought to be about six per cent per annum in the years ahead", a new study by Commerzbank, the second largest bank for private and corporate customers in Germany, reveals. According to the study, countries which manage to attract foreign investors could actually see even higher growth, since investments like these frequently initiate or boost growth momentum. With an economic growth forecast of 5.4 per cent for 2012, the region is now already ranking directly behind front-runner Asia. The commodity boom and the turnaround to stability-oriented economic policy have increased the crisis-resistance of many countries in this region. Some of the states have thus already recorded notable surpluses in current account and government budget.