## Regional Economic Outlook: Domestic Revenue Mobilization and Private Investment

_Sub-Saharan Africa, May 8, 2018_

## Source details

**Canonical URL:** [Regional Economic Outlook: Domestic Revenue Mobilization and Private Investment](https://www.imf.org/en/publications/reo/ssa/issues/2018/04/30/sreo0518)

## Other formats

- [Markdown version](/en/publications/reo/ssa/issues/2018/04/30/sreo0518/index.md)
- [Structured JSON version](/en/publications/reo/ssa/issues/2018/04/30/sreo0518/index.json)
- [Bundle manifest](/en/publications/reo/ssa/issues/2018/04/30/sreo0518/bundle-manifest.json)

## Bibliographic details
- Published: May 8, 2018
- Series: Sub-Saharan Africa

---

### Growth outlook and key statistics
- Average growth in the region is projected to rise from 2.8 percent in 2017 to 3.4 percent in 2018.
- Growth is accelerating in about two-thirds of the countries in the region.
- On current policies, average growth in the region is expected to plateau below 4 percent—barely 1 percent in per capita terms—over the medium term.
- External environment drivers noted: stronger global growth, higher commodity prices, and improved capital market access.
- About 40 percent of low-income countries in the region are now assessed as being in debt distress or at high risk of debt distress.
- External imbalances have narrowed, while the record on fiscal consolidation has been mixed and vulnerabilities are rising.

### Domestic revenue mobilization: importance and challenges
- Domestic revenue mobilization is described as one of the most pressing policy challenges facing sub-Saharan African countries.
- Three aspects of domestic revenue mobilization make it particularly important (chapter referenced but specifics not provided on this page).
- Strengthening revenue mobilization is highlighted as necessary to raise medium-term growth prospects.

### Private investment and growth constraints
- Private investment in sub-Saharan Africa is low compared with other countries with similar levels of economic development.
- The low level of private investment is constraining the region’s efforts to improve social outcomes by holding back labor productivity and the resulting gains in real wages and households’ income.
- Advancing structural reforms to reduce market distortions is recommended to help shape an environment that fosters private investment.

### Policy recommendations and priorities
- Prudent fiscal policy is needed to rein in public debt.
- Monetary policy must be geared toward ensuring low inflation.
- Countries should strengthen revenue mobilization.
- Continue to advance structural reforms to reduce market distortions and foster private investment.
- Deliberate actions are needed to boost growth potential to achieve sustained strong growth consistent with the achievement of the SDGs.

*Regional Economic Outlook: Domestic Revenue Mobilization and Private Investment — May 2018 (IMF page overview)*

---

## Content in this bundle

- **Chap1**
  - [Chap1 (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/chap1.pdf.md){rel="alternate" type="text/markdown"}
  - [Chap1 (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/chap1.pdf){rel="external" type="application/pdf"}
- **2. Domestic Revenue Mobilization in Sub-Saharan Africa: What Are the Possibilities?**
  - [2. Domestic Revenue Mobilization in Sub-Saharan Africa: What Are the Possibilities? (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/chap2.pdf.md){rel="alternate" type="text/markdown"}
  - [2. Domestic Revenue Mobilization in Sub-Saharan Africa: What Are the Possibilities? (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/chap2.pdf){rel="external" type="application/pdf"}
- **Chap3**
  - [Chap3 (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/chap3.pdf.md){rel="alternate" type="text/markdown"}
  - [Chap3 (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/chap3.pdf){rel="external" type="application/pdf"}
- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/executive.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/executive.pdf){rel="external" type="application/pdf"}
- **Publications of the IMF African Department, 2012–18**
  - [Publications of the IMF African Department, 2012–18 (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/publications.pdf.md){rel="alternate" type="text/markdown"}
  - [Publications of the IMF African Department, 2012–18 (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/publications.pdf){rel="external" type="application/pdf"}
- **sreo0518**
  - [sreo0518 (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/sreo0518.pdf.md){rel="alternate" type="text/markdown"}
  - [sreo0518 (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/sreo0518.pdf){rel="external" type="application/pdf"}
- **stats**
  - [stats (Markdown version)](/-/media/files/publications/reo/afr/2018/may/pdf/stats.pdf.md){rel="alternate" type="text/markdown"}
  - [stats (PDF)](/-/media/files/publications/reo/afr/2018/may/pdf/stats.pdf){rel="external" type="application/pdf"}

---

## References

- [Country Focus](https://www.imf.org/en/news/articles/2018/05/11/na051118-sub-saharan-africa-firming-up-the-economic-recovery)
- [Press Release](https://www.imf.org/en/news/articles/2018/05/08/pr18161-imf-sets-out-policy-steps-to-reduce-vulnerabilities-and-raise-sub-saharan-africa)
- [Sign up to receive free e-mail notices when new series and/or country items are posted on the IMF website.](https://www.imf.org/en/email-subscription/index)
- [Modify your profile](https://www.imf.org/en/email-subscription/login)
- [https://www.imf.org/en/publications/weo](https://www.imf.org/en/publications/weo)
- [Global Economy in Crosscurrents of War and Technology](https://www.imf.org/en/publications/weo/issues/2026/07/08/world-economic-outlook-update-july-2026)
- [https://www.imf.org/en/publications/gfsr](https://www.imf.org/en/publications/gfsr)
- [Global Financial Markets Confront the War in the Middle East and Amplification Risks](https://www.imf.org/en/publications/gfsr/issues/2026/04/14/global-financial-stability-report-april-2026)
- [https://www.imf.org/en/publications/fm](https://www.imf.org/en/publications/fm)
- [Fiscal Policy under Pressure: High Debt, Rising Risks](https://www.imf.org/en/publications/fm/issues/2026/04/15/fiscal-monitor-april-2026)
- [https://www.imf.org/en/publications/reo](https://www.imf.org/en/publications/reo)
- [Asia and Pacific](https://www.imf.org/en/publications/reo/apac)
- [Europe](https://www.imf.org/en/publications/reo/eu)
- [Middle East and Central Asia](https://www.imf.org/en/publications/reo/meca)
- [Sub-Saharan Africa](https://www.imf.org/en/publications/reo/ssa)
- [Western Hemisphere](https://www.imf.org/en/publications/reo/wh)
- [https://www.imf.org/en/publications/areb](https://www.imf.org/en/publications/areb)
- [Getting to Growth in an Age of Uncertainty](https://www.imf.org/en/publications/areb/issues/2025/09/24/annual-report-2025)
- [https://www.imf.org/en/publications/finance-development](https://www.imf.org/en/publications/finance-development)
- [More Publications](https://www.imf.org/en/publications)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/publications/reo/ssa/issues/2018/04/30/sreo0518_