Ghana continues to be one of the most stable countries in sub-Saharan Africa and has developed substantially over the years. Now one of Africa’s fastest-growing economies, the country is starting to move away from traditional resource dependency. However, it faces the challenge of ensuring the widest benefit from that expansion, given its growing and increasingly urbanised population.
Despite its diversified economy, Bahrain has nonetheless faced pressures in recent years as a result of the 2014-15 drop in global oil prices. However, a multibillion-dollar aid package from other Gulf states and an accompanying fiscal adjustment plan, as well as growth following a partial oil price recovery and a major oil and gas discovery, offer hope for an economic turnaround in 2019.
Côte d’Ivoire has returned to economic growth after stabilising its political situation in 2011. The economy has grown at a rate of 9% per year since 2011, in part due to the emergence of its burgeoning industrial sector. As one of the fastest-growing African economies, with an annual GDP growth rate forecast at 7-7.5% in 2019, Côte d’Ivoire is now promoting sustainable and inclusive growth.
Although Myanmar has been faced with internal conflict, a new long-term economic agenda, alongside rising oil and gas prices and considerable growth in some manufacturing segments, are set to encourage increased foreign direct investment inflows into the country.
Algeria is a key producer of hydrocarbons in Africa, ranking first in gas output and among the top three for oil. It depends on the sector for the majority of government revenue and nearly all exports. Despite reforms to encourage private sector development, promote diversification and attract FDI, the state plays a preponderant role, meaning that changes to government expenditure and investment continue to have a large impact on economic performance.