In the Central African Republic, the World Bank released its annual report on Monday, November 30. In 2019, growth slowed slightly to 3.1%, but remained good compared with the countries in the region. However, the outlook for 2020 is much worse … The World Bank predicts zero or even negative growth of up to 1.2% for 2020.
as reported from Bangui, Charlotte cosset
In question, the Covid-19 pandemic. The latter risks exacerbating the situation of extreme poverty, estimated at 71%, in 2019. To strengthen the Central African economy, the World Bank recommends a diversification of activities.
“How can we transform the wealth of the kingdom, in the country itself, by creating jobs and wealth? And how can we diversify the economy to have more sectors where we can work? Of course, the transformation of the cotton, wood, coffee, diamond sector or even new products that have great potential in this country such as vegetable oil, legumes, wax, ”Han Fraeters, the representative of the World Bank, is changing.
The election deadline is also an important step … Peaceful and transparent elections will play on economic stability. And even though efforts have already been made, important reforms still need to be implemented.
“We must work with the next government on reforms that will be difficult. “There are many reforms that need to be made to improve the business climate, to improve the management of public finances, which from time to time will run counter to those individuals who will have power but are necessary if we really want growth, an inclusive economy”. Han Fraeters insists.
Further efforts for the quality of governance and administration will also be made, according to the World Bank.
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