The Annual Trends and Outlook Report (ATOR) states majority of low income African countries will make a transition to middle income status by 2030.

It was on the annual conference of Regional Strategic Analysis and Knowledge Support System (ReSAKSS) held yesterday, September 02, 2015 that the report was presented.

The report states Eritrea will assume such status by 2050.

The report says Sub-Saharan Africa will have greater economic growth in GDP per capita between 2015 and 2030 and 2050 as well.

This time, all northern Africa and half of southern Africa countries are middle income and most of African countries in the western, central and eastern Africa are low income.

Africa could achieve recent economic growth because of Macroeconomic stability, advancements in governance and human capital as well as increasing finance, the report pointed out.

In spite of economic growth, the report also singled out challenges that might slow Africa’s growth.

Sources: Ethiopian News Agency