Southern Africa: Economic Recovery Started, but Contrasting Growth - African Development Bank's Economic Outlook 2018

Publisher:
AfDB
Publication Date:
9 March 2018
Tags:
Southern Africa, Economy, Business and Finance, International Organizations and Africa, Trade

Estimated at 1.6% on average in 2017, real GDP growth in Southern Africa is expected to improve to 2% in 2018 and 2.4% in 2019.

Deputy Director General of the Bank for Southern Africa, Josephine Ngure said: "The Southern Africa region has made considerable progress in the fight against poverty and improvements in the quality of life of its inhabitants, through the implementation of policies targeting the acceleration of industrialization and the promotion of growth and job creation."

However, economic forecasts remain cautious, especially given the very different growth patterns of the region's economies. The economic "locomotive" of the region, South Africa, shows signs of slow growth, and possibly declining growth, while low-income countries and the economies in transition, such as Madagascar and Mozambique, recorded more important growth.

"High fiscal deficits and rising public debt pose challenges to macroeconomic stability in several southern African countries. Governments should put in place measures to improve the mobilization of domestic resources and funds from the private sector to ensure adequate levels of development spending, stimulate growth and create jobs, especially for young people, "said Stefan Muller, Bank's Senior Economist for Southern Africa.


InFocus

AfDB's Economic Outlook 2018 Reports on Africa's Five Regions

As a leading African institution, the African Development Bank was the first to provide headline numbers on Africa's macroeconomic performance and outlook in 2018 by launching this ... Read more »

Follow AllAfrica

  • Become a Facebook fan
  • Follow AllAfrica on Twitter
  • Read AllAfrica on Newsstand
  • Read AllAfrica on Linkedin
  • Sign up for free newsletters
  • Subscribe to RSS feeds
Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.