African Development Bank Group's premier Regional Economic Outlook for South Africa region for launch

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From: 12/03/2018
To: 12/03/2018
Location: Pretoria, Afrique du Sud
African Development Bank Group's premier Regional Economic Outlook for South Africa region for launch

Following the successful launch of the 2018 edition of its flagship African Economic Outlook, the African Development Bank will on Monday, March 12, 2018 launch the regional versions of the Report.

This is the first time in the African Economic Outlook’s 15-year history that an economic outlook report for each one of the Bank’s 5 regions in Africa has been prepared to complement the main report.

The Regional Economic Outlook Report for the Southern Africa – a premiere

“The African Economic Outlook is a flagship Bank publication. It is highly regarded by policy makers, researchers and experts because of its strong analytical contents and its practical recommendations on how to handle critical development issues. It also provides an economic snapshot of all 54 African countries. By introducing a regional focus for the first time, we are leveraging our expertise to add more granularity and policy relevance to this publication,” said Celestin Monga, Chief Economist and Vice-President responsible for economic governance and knowledge management. “By introducing a regional focus for the first time, we are leveraging our expertise to give this publication greater depth of analysis and relevance.”

The Southern Africa region economic analysis covers specific features, including challenges, successes and prospects: macroeconomic developments, trends and development in poverty, inequality and employment, budgetary pressures, debt and inflation. The report also looks at regional developments and competition in food value chains in Southern Africa.

Southern Africa – Economic recovery is underway, but growth is expected to remain sluggish

Estimated at 1.6% on average in 2017, real GDP growth in the Southern Africa region should improve to 2% in 2018 and then 2.4% in 2019.

The economic outlook for the Southern Africa region is cautious, especially given the diverging growth patterns for the region’s economies. South Africa, the largest economy in the region, turned in low and declining rates of growth. Meanwhile, lower income transitioning economies such as Madagascar and Mozambique, recorded moderate and improved growth, albeit at reduced rates.

“The African Economic Outlook is the result of extensive research including data collection, analysis, and projections. The Bank’s economists have redoubled their efforts to produce the regional economic reports, which further enrich the knowledge products of the Bank,” said Abebe Shimeles, Acting Director, Macroeconomic Forecasting and Research.

The Bank’s regional economic outlook for Southern Africa will be presented to the public on March 12, 2018 at 2.00 PM at the Bank’s Regional Office in Pretoria, South Africa. The Report will be presented by Stefan Muller, the Bank’s Lead Economist for the Southern Africa Region on behalf of the Bank’s Chief Economist and Vice-President, Celestin Monga. The Bank’s Deputy Director General for the Region Josephine Ngure  will chair the event.

Representatives from the Government of South Africa, development partners, the private sector and the civil society have been invited to attend the event. 

The economic outlook reports for each of the Bank’s 5 regions in Africa will be presented to the public on same date time.

The report is embargoed until March 12, 2018.