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Inhaltsangabe: Seminar paper from the year 2015 in the subject Business economics - General, grade: B, Atlantic International University (School of Business and Economics), course: Economics, language: English, comment: This research paper is the first of its kind to be published online. It describes the state of the economy in Guinea regarding as to how the economy is improving for the benefit of businesses and households. , abstract: The Republic of Guinea is a poor country in the West Africa region. It is endowed with considerable, unexploited resources. It has the world's largest reserves of bauxite (2/3 of global reserves) as well as large deposits of iron ore, gold and diamonds. It also has the potential to develop other metals, oil and gas. However, persistent structural and institutional weaknesses have prevented Guinea from developing a strategic vision and implementing the types of policies needed to reap the full benefit of its mineral wealth. Added to this, rampant corruption, dilapidated electricity and other degraded infrastructure, and political instability have drained and eroded investor confidence. Over the second half of the last decade (2010-2015), Guinea's economy has undergone major transformations with ups and downs. In 2013, economic growth was estimated at 2.0%, down from 3.9% in 2012 due to political dispute over the holding of parliamentary elections, a drop of investment in the mining sector and a recent ebola outbreak in the Forrest Guinea region . Growth, driven by agriculture, improved electricity supply and construction, is expected to increase to 4.3% in 2015. Due to major efforts deployed by the public authority of Guinea in overcoming a number of major obstacles underlined above, reforms which started earlier in 2010 still continue in 2015 so as to transform positively the economy of Guinea in reducing poverty, promoting economic development and building a strong, stable political environment suitable to promote private investment and improve
Über den Autor: Youssouf Keita is a Guinean born Economist. He worked as Consultant for several institutions like USAID-funded Carana Corporation situated in the U.S. He provided market information to business associations and export-ready companies in West Africa as to how to export their products to the U.S. duty-free and quota-free under African Growth and Opportunity Act of the U.S. Congress. After, he worked as Trade and Investment Expert at ABT Associate for West Africa Trade Hub located in Accra with field office of Guinea. Youssouf Keita worked also a Research Manager at Consultancy Africa Intelligence in Johannesburg. Now, Youssouf works as Director at American Home-builders of West Africa. He contributes to develop a new business model in the area of housing development in Guinea where the investment opportunities are tapping and the emerging middle class can have their quality houses in three months only. Youssouf holds a Master's degree in Economics earned in 2010 thanks to the Prestigious Fulbright Scholarship granted by the U.S. government at Eastern Michigan University. He is now pursuing a PhD in Economics at Atlantic International University Honolulu, Hawai USA. The expected graduation date is October 1, 2010.
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