Speaking at the opening of the 27th Meeting of the Committee of Experts in Addis Ababa, Janneh said the current growth rate, which stands at 5.8 percent in 2007, need to increase to over seven percent.

“Africa has been growing steadily over the past five years and as a whole the continent is also governing itself better,” Janneh said, adding twenty five countries achieved growth rate of over five percent or more in 2007.

However, the Executive Secretary said if Africa is to achieve the MDGs by 2015, current annual growth rate need to be increased to over seven percent.

Janneh also said as its recent economic growth has not generated the quantity and quality of jobs that will help to significantly reduce poverty the continent has to assess whether recent growth is creating the much needed employment.

Challenges of a global nature like HIV/AIDS and climate change, rising food and oil prices pose balance of payments problems for many African countries and threatened the livelihoods of millions of poor people.

“I whish to emphasize that while Africa is making steady progress, it needs bold, determined and focused leadership to meet its emerging and future challenges,” he added.

In his opening statement, Ethiopian State Minister of Finance and Economic Development, Mokonnen Manyazewal said on his part that despite encouraging results over the past few years Africa still needs to work hard towards achieving targeted goals of development.

The State Minister emphasized on the regional integrations as the most effective way to enhance social and economic development in Africa.

I need to stress on two critical issues towards regional integration whereby developing economic growth in Africa, he said.

We must accelerate physical integration and increase infrastructure development like transport and communication among countries of sub-regions, he added.

African Union Commissioner for Economic Affairs, Dr. Maxwell M. Mkwezalamba said though African countries have experienced impressive and remarkable growth, it [the growth] has failed to generate adequate employment and significantly reduce poverty.

Dr. Mkwezalamba said that it has also been observed that the relatively high economic growth rate may not be sustainable owing to the increased demand for Africa’s commodities and price of oil. The challenge facing the continent is now how to promote sustainable growth and ensure employment creation.

The four-day meeting will hold discussion on various Africa’s economic issues including the continent’s recent social and economic development, regional integration and sectoral policy issues such as trade and statistics.

R-3:20-3:56 P.M

E-4:31-4:46

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