Fiscal Policy, Trade and the Private Sector in a Digital Era.

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Presentation transcript:

52st Session of the Conference of African Ministers of Finance, Planning and Economic Development Fiscal Policy, Trade and the Private Sector in a Digital Era. Ms. Vera Songwe, Executive Secretary Economic Commission for Africa Indicate that slides show, necessarily, a very brief highlight of material: for considerably more detail, audience can see upcoming ARIA IX report

www.uneca.org

9 Programmatic Clusters Macroeconomics & Governance Private Sector Development & Finance Data & Statistics Technology, Climate Change & Natural Resource Management Regional Integration and Trade Gender equality and Women empowerment Poverty, Inequality and Social Policy Economic Development and Planning Sub regional activities

Positive growth outlook www.uneca.org

GDP per capita stagnating/falling in some countries

African Poverty Clock https://www.africanpoverty.io/index.html

Estimated Financing Gaps SDGs: USD 614-638 Billion annually Infrastructure: USD 130-170 Billion annually Healthcare financing: USD 66 Billion annualy www.uneca.org

Tax-to-GDP-ratios across regions www.uneca.org

Trade: Intra and extra-group merchandise for selected regions (percentage, average 2012-2016) Source: Based on data from UNCTADStat www.uneca.org

Intra-African trade as a share of GDP UNECA.ORG

Addressing Non-Tariff Barriers: Logistics Marrakesh to Tunis: 2,323 km Alexandria to Addis Ababa: 3,944 km Dakar to Niamey: 2,570 km Abidjan to Lagos: 990 km Mombasa to Dar es Salaam: 3,882 km Eliminating tariffs and removing non-tariffs barriers, such as cumbersome border procedures and significant infrastructure bottlenecks is critical in critical to addressing this. This is precisely the overarching objective of the recently signed Agreement Establishing the African Continental Free Trade Area (AfCFTA), which is championed by the African Union Commission (AUC) and the eight Regional Economic Communities (RECs). Cape Town to Lusaka: 3,017 km Point-Noire to Luanda: 1,343 km UNECA.ORG

Opportunities in Digitalization

Leveraging digitalization could lower tax administration costs www.uneca.org

Tech hubs in Africa www.uneca.org

ECA Digital Center of Excellence Harmonization, Regulation, Infrastructure Capacity & Skills, Sovereignty, Privacy & Cyber security Mobile access & connectivity SIM registration Mobile transactions Financial inclusion E-payments P2P transfers Access to financial services Economic opportunity Sharing economy Opening small business Digital trade Cross-border trade Democratic process Fair, fast and secure voting, tracked to an individual’s verified digital id Domestic accountability My digital identity Social Services Maternal & child health services tracking eHealth, virtual health services Educational enrollment Government services Social Intervention programs Cash transfers Pensions Public Finance Domestic Resource Mobilization Effective targeting Payroll Integrity Leaving no one behind UNECA.ORG 18

Thank you www.uneca.org