Wednesday, June 13, 2007

How can they predict such high growth?

The African economy is predicted to expand 6.2%. Read here. Now our economy isn't predicted to do as well but we are still going to be sending aid to them. Sounds like we don't need to send so much. Yippee! Finally.

But hold on. Now bearing that in mind it says last year it grew 5.5% and it predicts that it needs to grow by 7% if it is to half poverty rates by 2015. I'm not clear about this but I think that if our growth isn't doing so well then they don't get the aid they need, it just won't be there, so we won't be making massive increases despite what our useless politicians might think they can do with our money. Bearing in mind climate change, which already is changing peoples attitudes, and looks like it will reduce trade for Africa so their component is likely to fall or at least stagnate.

Knowing the black hole that is Africa and my, simple, understanding of what is going on over there I suspect that this statement must mean that in reality growth is hovering around the 1% mark tops for a couple of countries whilst the rest are dependant on our aid or financial jiggery pokery which has increased by the amount sufficient to bring it to 6.2% over all. In which case Africa's GDP isn't up to much nor is is looking as good as the article implies.

We really need to change what we are doing in Africa. We won't be able to keep up this level of aid forever with our bloated state and the belt tightening we will have to do with climate change as well as the million and one other 'fees' we will be paying. Eventually we just won't be willing to spend the money while we suffer at home.

In the meantime our politicians continue to pour the money into Africa exactly as we have done for decades without change. Of course it will be different this time.


At 8:29 pm, Blogger Crushed by Ingsoc said...

We are of course, considerably wealthier in the first place. With a much higher standard of living and lifes expectancy...

At 12:00 pm, Blogger Bag said...

I agree. I understand that some large companies have larger turnover than some of the smaller African countries. It's still a proportion though 6.2% is still significant growth and only good news if it is the right growth area. If our aid is required to keep these places afloat for the rest of time then we are clearly doing something wrong. We are setting up a socialist world just to make us feel better. There must be a better way and policitians are not even looking.


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