# Africa's economic outlook  
The economic outlook of the entire continent has shifted in the right direction during the last two decades, starting from the 2010s. There are significant variations between regions and countries, but on average, the situation has improved. Globally, major European weekly magazines, such as Le Point in France and The Economist in the United Kingdom, have praised Africa's economic performances. It is a far cry from the description of Africa as 'the hopeless continent', in the thundering headline of The Economist in 2000. The economic growth rate has been sustained for the last few years, averaging 5\% per year, with double-digit rates in countries like Ethiopia and Ghana. The European-American financial crisis did not significantly affect Africa, partly because of its loose banks. There are still major obstacles to the freeing of all the potential creative energy, but many African entrepreneurs are more optimistic and less risk-averse. According to demographic projections, there are 500 million Africans of working age and there will be 1.1 billion in 2040, more than in China or India (Le Point, 9 August 2012). The potential for greener development is also higher in Africa than anywhere else in the world.