Africa must digitise its economies, broaden its tax base, prevent further deterioration of fiscal and debt positions, and aim for double-digit growth to realise its potential, according to a new UN report. While economic growth in Africa remained moderate at 3.2% in 2018 — due to solid global growth and a moderate increase in commodity prices — the continent needs to achieve a fine balance between raising revenue and investment incentives to boost growth. The “2019 Economic Report on Africa”, which was released over the weekend, is a flagship publication of the UN’s Economic Commission for Africa (ECA). The 2019 report focuses on fiscal policy. According to the World Bank, growth in sub-Saharan Africa is expected to accelerate to 3.4% in 2019. Growth in Nigeria is expected to rise to 2.2% in 2019, assuming that oil production will recover. A slow improvement in private demand will constrain growth in the non-oil industrial sector. Angola is forecast to grow 2.9% in 2019 as the oil s...

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