Кризата В Европа – Последици За Африка[The EU Crisis – Impact on Africa]

The ongoing debt crisis in some EU countries carries serious risks for the economic development of Africa. Although so far it only affected individual countries, there is an increased risk that the crisis could spread rapidly to include not only more European countries, but other parts of the world. The escalation of the crisis in the Euro-zone, on the one hand, reduces confidence in the developed countries, while on the other, negative shocks create tension in developing countries, which will undoubtedly have an effect on the economic development of Africa. The main channels through which it affects the continent are: trade - in terms of the declining demand for African exports from Europe; reduction of official development assistance; reduction of financial income as foreign direct investment, remittances, tax revenues; restructuring of the global demand etc.