Eritrea Tops GDP Growth Rate List 2011

The Economist Intelligence Unit has published the “2011: country by country” report. According to the report economic growth rates for 2011 will take different directions depending on where you live. If you live in the rich world growth will underperform, if you live in the developing world growth rate predictions look rosy.

The world GDP growth is predicted to slow down from 3.5% in 2010 to 2.5% in 2011, as fiscal stimulus is withdrawn and emerging markets will continue, to a large extent, to shrug off the 2008-09 economic crisis. Eritrea, the former Italian colony, which won independence from Ethiopia in 1993 after a long bloody war, is set to become the world’s top growth leader in 2011.

Eritrea will overtake Qatar as the world’s fastest-growing economy in 2011, as production begins at the country’s first operational mine (Bisha) operated by Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU).

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We have had a fantastic year and we expect our growth to continue as we move from construction to commercial production in 2011,” said Cliff T. Davis, President and Chief Executive Officer, Nevsun Resources in a recent press release.

The world growth league table 2011 in real GDP growth shows Eritrea on the top of the 20 fastest-growing economies followed by Qatar, Ghana, Ethiopia, China, India, Uzbekistan, Laos, Haiti, Papua New Guinea, Angola, Botswana, Liberia, Mozambique, Tanzania, Sao Tome and Principe, Sri Lanka, Vietnam, Rwanda, Malawi.

For more information please visit: Finfacts

By Editorial Team

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