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Southern Africa Quarterly Review and Analysis - 4th Quarter 2011 - Issue 3
The countries of the Southern African region registered mixed economic growth performances in 2011. While the economies of Zimbabwe, Mozambique, Zambia and Botswana grew by 6 percent or more, Swaziland and Madagascar recorded growth of less than 1 percent. The political crisis in Madagascar continues to weigh down economic activity, whereas in Swaziland the fiscal crisis reduced both consumption and investment expenditures as the Government was not successful in mobilizing financing resources. At 3.5 percent, the region’s aggregate growth remained unchanged from the previous year, reflecting the negative impact of the eurozone debt crisis due to its importance as a major trade destination. Mauritius and South Africa were the countries most affected. While uncertainty on growth in the eurozone remains, the Southern Africa region is expected to recover to around 4 percent and 4.5 percent in 2012 and 2013 respectively.