Formal Opening of AfDB 2012 Annual Meetings: Tanzanian President says Africa is set to become world economic power

Africa is poised to become the world’s new economic power house for the 21st century, provided it continues to embrace the sound economic policies that engendered the progress being witnessed today, Tanzanian President Jakaya Mrisho Kikwete said in Arusha on Thursday at the official opening of the 2012 Annual Meetings of the African Development Bank (AfDB).

“We must strive to maintain macro-economic stability and sustain it through tackling high budget and overall external deficits,” the president suggested, calling for more efforts to lower the high inflation rates in many economies and keep it at single digit level.

In his view, regional integration is a unique vehicle that would enable Africa to build capacities for self-reliance and resilience against the uncertainties presented by the current crisis in the global economy.

Read more at: http://www.afdb.org/en/news-and-events/article/formal-opening-of-afdb-2012-annual-meetings-tanzanian-president-says-africa-is-set-to-become-world-economic-power-9339/#.T8fIsnkdPMA