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Extra resources for African Economic Outlook 2005/2006
Political tensions have also increased in Chad, as well as in Kenya following the rejection of the national constitutional review. In Niger, mounting tensions were related to famine and troubles in the north of the country. More generally, political instability has decreased over the past few years. After 27 years of civil war, Angola appears well on the road towards pacification, and the political situation in Sierra Leone, Liberia and GuineaBissau also moved towards normalisation. War, however, remains the strongest threat to democracy and human rights in Africa.
4 per cent of GDP. The deterioration is largely due to increased fiscal deficits in East Africa’s three largest © AfDB/OECD 2006 Overview economies: Kenya, Ethiopia and Tanzania, accounting for about two-thirds of East Africa’s GDP. 8 per cent in 2005. In 2006 and 2007 fiscal deficits tend to stabilize at their 2005 levels with very little adjustment expected to take place. 5 per cent in 2005), reflecting windfall oil revenues. 1 per cent in 2005), there were only small changes in the fiscal balances of the remaining seven Southern African countries, with Malawi, Namibia and Zambia slightly improving their fiscal balances and Botswana, Lesotho, Mozambique and Swaziland experiencing slight deteriorations.
The average trade balance in West Africa is dominated by Nigeria where the trade surplus increased to nearly 27 per cent of GDP in 2005 up from about 25 per cent in 2004. Little change is expected in 2006 or 2007 for most of the deficit countries, although significant declines in trade deficits are projected for Sierra Leone and The Gambia. And the trade surplus of Nigeria is expected to shrink somewhat to about 20 per cent in 2007. 8 per cent of GDP, largely due to further large increases in the nominal value of oil exports, especially in Chad, the Republic of Congo and Gabon.
African Economic Outlook 2005/2006