Economy in Djibouti

  • Global economic gravity rapidly pulling towards Africa

    BOTSWANA, 2017/06/20 The second International Conference on the Emergence of Africa (ICEA) was held in Abidjan, Côte d’Ivoire, in March 2017. Since the initial conference in 2015 — at a time of robust economic increase on the continent — hopes for economic evolution have dimmed because of a crash in the price of commodities, volatile world financial markets and a slowdown in world increase. Before departing New York to attend the second ICEA conference, jointly organised by the World Bank, the African Development Bank and the United Nations Development Programme (UNDP), Assistant Secretary-General of the UN and chief of UNDP’s Regional Bureau for Africa Abdoulaye Mar Dieye sat down for an interview with Africa Renewal’s Kingsley Ighobor to talk about Africa’s economic development opportunities and challenges.
  • Take responsibility for transforming your countries – Akufo-Addo

    BOTSWANA, 2017/06/15 President Nana Addo Dankwa Akufo-Addo has urged African leaders to assume responsibility for the transformation of their economies, and depart from the mindset of aid, dependency and charity. “If we, Africans, are to transform our stagnant, jobless economies, built on the export of raw materials and unrefined goods, to price-added economies that provide jobs, to build strong middle-class societies and lift the mass of our people out of dire poverty, again we must take our destinies into our own hands and assume responsibility for this,” he stated on Monday at the same time as addressing the G-20 Partnership for Africa Summit, currently taking place in Berlin, Germany.
  • Rise of middle class, fact or fiction

    BOTSWANA, 2017/04/26 White-walled tyres on his bike appear to elevate a trendy young man from the lower classes but the question is whether he is contributing towards sustainable economic increase. THE middle classes in the world south have gained growing attention since the turn of the century, mainly through their rapid ascendancy in the Asian emerging economies. A side result of the economic increase during these “fat years” was a relative increase of monetary gain for a growing number of households. This as well benefited some lower gain groups in resource-rich African economies. A lot of part these crossed the defined poverty levels, which were raised in late 2015 from $1.25 (R16) a person a day to $1.90. As some economists had suggested, from as little as $2 they were considered as entering the “middle class”.
  • Data can fuel Africa's economic growth

    BOTSWANA, 2016/11/30 Africa is home to some of the world’s fastest-growing economies and one of the majority promising regions for international investment . This increase could be accelerated by addressing a fixable problem: lack of good data. Reliable, accessible data plays a critical role in any economy. Investors require data before making decisions, and the additional complete and up-to-date the data, the better their willingness to invest. Data as well helps public officials make sound decisions that promote increase and innovation, and enables citizens to hold government and business accountable.
  • This is why, despite challenges, Africa can still rise

    BOTSWANA, 2016/10/04 Is the honeymoon over for African economies? Less than a decade ago, it seemed that the continent’s economic dreams were beginning approaching authentic, with a lot of nations experiencing impressive GDP increase and development. Presently, as the harsh reality of the continent’s vulnerability to challenging external conditions has set in, sustaining that increase has proved difficult. Encumbered by slowing increase in China, a collapse in commodity prices, and adverse spillover from numerous security crises, Africa’s in general annual GDP increase averaged just 3.3% in 2010-2015, barely keeping up with people increase, and down sharply from the 4.9% recorded from 2000 to 2008.
  • Africa’s economic growth is likely to be slower in the intervening years

    BOTSWANA, 2016/05/12 Africa’s economic increase is likely to be slower in the intervening years than in the before decade, according to the new rating by Ernst & Young using a barometer to gauge the level of appeal and success.“The baseline projection of the International Monetary Fund (IMF) for 2016 is presently reduced to 3%, while it was estimated at 6.1% in April 2015″, Ernst & Young points out in its rating.
  • Djibouti to launch ambitious job creation programme

    DJIBOUTI CITY, 2016/03/25 Djibouti’s efforts in recent years to foster increase through infrastructure investment have been largely successful, according to the IMF’s most recent Article IV consultation. Accumulation investment reached 44% of GDP in 2014 and is expected to peak at 60% in 2015. As of late 2014, the country had accumulated $1.5bn in foreign capital, up from around $15m in the mid 1980s. Foreign direct investment has been highly concentrated around ports, roads, real estate and hotels. GDP increase is as well expected to continue increasing, from 6% in 2014 to around 6.5% in 2015 and 2016, and 7% per annum through to 2019, as per IMF figures. As the infrastructure drive increases request for housing and services, inflation is expected to rise from 3% in 2015 to approximately 3.5% between 2016 and 2018.
  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.
  • Djibouti's economy between 2013 and 2016

    DJIBOUTI CITY, 2013/10/09 The International Monetary Fund (IMF) forecasts a 6 % increase in Djibouti's economy between 2013 and 2016. In its new statement, the IMF said the Red Sea country has seen encouraging signs in its economy for the completed decade and that its GDP could grow at an average of 6 % in the 2013 and 2016 period. "The national budgetary deficit has been brought under control, last year it represented only 2.7 % of the gross domestic product (GDP) and the country's average increase rate for the last decade has been about 4.5 %," the study noted.