The continent’s macroeconomic policies should therefore be integrated into its development objectives, contained in a long-term development strategy to facilitate transformation of economic and social structures, with a view to ensuring a positive feedback loop in the investment–growth nexus and to engendering inclusive growth.
The concept of development is much broader than that of economic growth, and any long-term development strategy, which should be at the apex of the planning process (see figure 4.1), must encompass this. It is an evolving process, not just a set of targets over a particular time horizon, as in a centrally