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FACTORS MILITATING AGAINST ECONOMIC DEVELOPMENT — Economics Keypoint

FACTORS MILITATING AGAINST ECONOMIC DEVELOPMENT

The slow rate of economic development among most West African Countries can be attributed to the Following factors.

  1. Low level of savings and investment. 
  2. Limited market for their goods.
  3. Lack of skilled workers.
  4. Over-dependency on foreign aids.
  5. Rapid increase in population of African countries
  6. Dependence on few export products for the country’s foreign earnings.
  7. Poor economic management by government of West African Countries.
  8. Poor standard of education and health services.
  9. Political instability.

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