has been accompanied by falls in investment in housing construction. New terms and incentives
have been promulgated but in 1994 and 1995, banks were only able to satisfy up to 14% of the
demand for credit. The Report therefore suggests possible steps which could be taken to promote
a fully developed housing market.
11. Recommendations for SHD Strategy
Each of the chapters in this Report link a particular aspect (Economic transformation, rural
development, housing, social infrastructure, and poverty) to their relationship with the human
development paradigm, in the context of their contribution to an eventual sustainable human
development strategy. The report argues that a growth strategy centered on human capital will be
more successful in raising a country's average level of human development for any growth rate
of GNP. However, there is no mechanism that automatically translates growth into greater
human development. Growth contributes to human development to a greater extent when
employment is encouraged, when human development is emphasized as the engine of growth,
and when a more equal distribution of income is promoted.
HUMAN DEVELOPMENT INDEX (HDI)
(1) 1996 0.679
HDI Ranking out of 174 1996
LAND AREA (‘000 sq. Km) 1996 447.4
94
POPULATION
Estimated population (million)
1995 22.6
1.9
Population growth rate (%),
1994
Fertility
Population density (per sq. Km)
4.1
1994 50.4
Rural population (%) 61.4
Urban population 38.6
ECONOMY
Total GDP (US$ billion) 1992
Real GDP per capita ($PPP) 1994 2,390
…
Annual GDP growth rate (%) 1994
-3.5
Inflation (%)
Employment (%),
1993
- Agriculture 44.6
- Industry 14.1
- Services 28.5
Unemployment (%) : Open
1994
0.3
Unemployment (‘000)
EDUCATION
Adult literacy rate (%)*
School enrollment rate (% Age 6-23)*
Mean years of schooling
98.7
1994 50.8
11.4
HEALTH
Av. Life expectancy (years)*
1994 70.4