Large areas of Africa have the world’s lowest income class, with less than a gross national income of $765 per person per year. The lowest gross national income is seen in Ethiopia, reaching only $90 per person per year. Even areas in Africa considered middle income zones see vast quantities of their population still living in poverty. North Africa is better off economically than South Africa due it’s stability in trade and tourism.
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Archive for October, 2009
Poverty In Africa
Monday, October 26th, 2009Africa Is A Slow Starter
Monday, October 12th, 2009The global economic downturn was felt by South Africa long after most of the Western World. With the West no beginning to recover from the financial crisis it is speculated South Africa will be slower to recover, as it was to start. Output in Africa’s largest economy shrunk by 3% in the 2nd quarter for the third time consecutively. Previously the loss had been as great as 6.4% however which has led some to speculate Africa’s first recession in 17 years may be at an end.
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