South Sudan Projected to be the Fastest Growing Economy in the World, 2014

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‘Economist’ top growers’ list for 2014 springs surprises, South Sudan GDP forecast to grow fastest

South Sudan GDP forecast to grow fastest – PHOTO: REUTERS

Which economy will be the fastest-growing next year?

The answer will surprise most people. In fact, many will struggle to even pinpoint it on a world map.

It is South Sudan, going by The Economist’s Top Growers for 2014 list. Occupying the top spot, this landlocked East African economy, which depends on oil for reportedly more than 90 per cent of its revenue, is predicted to grow its gross domestic product (GDP) by 35 per cent.

The resumption of oil production earlier this year – after it was halted in January 2012 over a disagreement with Sudan, from which it split in 2011 – will be a huge boost to its economic growth.

Ranked second on the magazine’s 2014 list of 12 runaway economies is Mongolia, expected to clock another double-digit year with 15.3 per cent growth, buoyed by a mining boom.

And third is Macau, projected to achieve 13.5 per cent GDP growth thanks to its gaming and tourism revenues.

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PaanLuel Wël

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PaanLuel Wël is the founder and editor-in-chief of PaanLuel Wël Media Ltd, a news website that covers news, opinions, analysis, history, culture and literature of South Sudan and the world. Founded in July 2011 by PaanLuel Wël to create a platform for free expression and constructive dialogue, the website features articles from various contributors, including columnists, commentators, poets, authors, activists and academics. PaanLuel Wël believes that media can play a vital role in informing, educating and empowering the people to participate in nation-building and social transformation. He also believes that media can foster a culture of dialogue, tolerance and diversity among different communities and groups, and hopes to inspire and mentor the next generation of South Sudanese writers and journalists.

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