The Olympics are history….the USA did well, as always….only Spain gave the egocentric B/Ball players a bit of a scare…….it has been lovely trying to avoid the silliness of the election and now the MSM has something to talk about besides Mitt’s taxes….his choice of a VP…..so another few weeks of sanity and I will return to the wonderful, delightful world of politics after the conventions……I am enjoying my break and am not missing the name calling or the insults from partisanship…….

What is the projected growth of GDP for the United States for the next or two?  If memory serves me it is predicted to be a bout 2% or less……with growth at that slow pace what will the rest of the world look like?  Will the US be one of the few countries with growth?

The truth of the matter is that some of what we call “the third world” will do a whole lot better than the US……..the Middle East and North Africa will see about the same growth rate as the US……

Economic developments in the Middle East and North Africa region continue to be heavily influenced by the disruptions caused by the social unrest that started more than 18 months  ago. In addition to the challenges posed by societal violence in some cases and sometimes fundamental political change, the external environment for the region is weak because of its close ties with high-income Europe. GDP growth for the aggregate of the developing region eased to 1 percent in 2011 from 3.8 percent in 2010, on weaker outturns for Egypt and Tunisia; and declining output for those countries in civil conflict. Output is projected to strengthen in 2013 and 2014 on the back of increased political stability,  improved conditions in Europe, portending a return of FDI and tourism flows. Nevertheless, regional GDP is projected to rise by only 2.2 and 3.4 percent in 2013 and 2014 – well below the 4.8 percent average growth recorded during 2000-2008.

However this is expected….since the region is trying to sort out the economy with the Arab Spring uprisings……

What about the other area of my interests…..sub-Saharan…..How will they fair in the coming year?

Despite the turbulent global economic environment in 2011, growth in Sub-Saharan Africa remained robust, steadying at 4.7 percent in 2011 – just shy of its pre-crisis average of 5 percent. Excluding South Africa, which accounts for over a third of the regions GDP, growth in the rest of Sub Saharan Africa was stronger at 5.6 percent in 2011, making it one of the fastest growing developing regions. Looking forward, still high commodity prices, ongoing investments in new mineral discoveries, policy loosening in some countries, and lower inflation rates, should support robust domestic demand, with GDP growth projected at 5 percent in 2012, with a pick up expected in 2013 as the global economy rebounds. Nonetheless risks to these forecasts remain tilted to the downside, as the global economy remains fragile, and weaker growth in China could curtail growth in the resource-dependent Sub Saharan economies.

Appears that the economy and economic growth looks better in sub-Sahara than the rest of the area….why?  Could it be more that large banks are not as heavily involved as the rest of the globe….or could the World Bank be using its influence to set the region up for more exploitation?