7 August 2014

Africa Needs to Foster Growth to Reduce Unemployment, Poverty

Washington — Growth rate achieved in Africa, even if they are on the rise in recent years, did not allow to significantly reduce unemployment and poverty in the continent, Algeria said Wednesday.

"The 6% growth rate recorded by the continent for several years even if it is a source of satisfaction, must be increased to enable Africa to reduce unemployment and poverty," noted Algeria in its statement to the 1st US.-Africa Leaders Summit.

The stake is to work with Africa to reverse infrastructure deficit, diversify its economy and speed up its integration. Algeria considers that the development of industrial and agricultural infrastructure offers an opportunity for the expansion of the partnership with the United States.

Concerning the African Growth and Opportunity Act (AGOA), Algeria called for it to be renewed and extended throughout the whole continent to develop African non-oil exports to the U.S.

For energy, Algeria stressed the need for a partnership to develop new energy sources as well as research and exploration of hydrocarbons.

Algeria has in this regard welcomed the American initiative "Energy for Africa", budgeted at $7 billion and intended to expand access to sustainable energy.

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