Washington, USA, October 15, 2024 -/African Media Agency (AMA)/- Despite signs of a fragile economic recovery, growth is stalling in sub-Saharan Africa, threatening to leave behind large numbers of young people. According to the latest edition of the report Africa’s Pulsewhich appears today under the title “Transforming education for inclusive growth”two factors are essential to succeed in reviving growth: we must, on the one hand, stabilize economies and, on the other hand, transform education in such a way as to equip a booming workforce with the foundations of more solid knowledge and skills in line with the expectations of the labor market.
According to forecasts from the 30th edition of the World Bank’s biannual economic report on sub-Saharan Africa, regional activity is expected to grow by 3% in 2024, compared to a low point of 2.4% in 2023, mainly thanks to the increase in private consumption and investment. Inflation is expected to ease from 7.1% in 2023 to 4.8% this year, driven by tighter monetary and fiscal policies, currency stabilization and fewer economic disruptions. ‘supply.
However, this recovery is insufficient to lift millions of people out of poverty. Growth in GDP per capita remains sluggish, at only 0.5% in 2024, compared to an average of 2.4% over the period 2000-2014. Conflict, climate change and the explosion of debt service costs are all obstacles to progress. In 2024, debt service will absorb 34% of public revenue in the region, to the detriment of productive investments.
“African governments are making progress in their efforts to stabilize finances and reduce budget deficits” underlines Andrew Dabalen, World Bank Chief Economist for Africa. “But the heavy debt burden limits their investments in crucial sectors like education, health and infrastructure, which are essential for long-term inclusive growth. »
The working-age population is growing at a faster rate in Africa than in other regions, thanks to progress over the past two decades in reducing child mortality. However, sub-Saharan Africa is also the region in the world that devotes the least per capita spending to education. The authors ofAfrica’s Pulse estimate that, to achieve universal education by 2030, education systems would need to absorb around 170 million additional children and adolescents, which would require the construction of around 9 million new classrooms and the recruitment of 11 million teachers.
The challenge is daunting, but the region has already made significant progress: currently, 270 million children are enrolled in primary and secondary education, and primary school completion rates have improved considerably since then. 2000.
“In the future, young Africans will need to be well educated and properly qualified to access better quality jobs and take advantage of the opportunities created by the digital economy and the green transition” explain Dabaalen. “Evidence-based planning and smart spending will be key to expanding access to education while improving learning and employment outcomes. »
Currently, in sub-Saharan Africa, seven out of ten children do not have access to pre-primary education, and less than 1.5% of young people aged 15 to 24 are in vocational training, compared to 10% in high-income countries. Closing these gaps is essential to enable sub-Saharan Africa to realize its full economic potential and ensure sustainable and inclusive growth. It is also essential to support entrepreneurship and new startups, enable small businesses to grow as well as attract established businesses, so that qualified degree holders find attractive employment opportunities when they enter and progress. on the labor market.
Distributed by African Media Agency (AMA) pour the World Bank.
Source : African Media Agency (AMA)
2024-10-15 08:37:00
#urgent #reform #education #enable #faster #inclusive #growth #Africa #
