SADC expects 7% growth this year
Business Report - August 6, 2007
The Southern Africa Development Community (SADC) expected a growth rate of 7 percent in 2007, but faced challenges of high inflation, the SADC executive secretary said at the weekend.
Tomaz Salomao hailed economic development in the region, saying SADC economic performance had improved in output growth and per capita income in 2006 compared with 2005. "The SADC average real GDP [gross domestic product] grew at about 5 percent in 2006, the same as in 2005," he said.
Angola has achieved the highest GDP annual growth rate of 18.6 percent this year, with Mozambique and Malawi at 7.9 percent and 7.4 percent, respectively. Excluding Zimbabwe, the SADC's inflation remained at 17.3 percent.
Zambia will host the SADC summit from August 16 to August 18.
The Southern Africa Development Community (SADC) expected a growth rate of 7 percent in 2007, but faced challenges of high inflation, the SADC executive secretary said at the weekend.
Tomaz Salomao hailed economic development in the region, saying SADC economic performance had improved in output growth and per capita income in 2006 compared with 2005. "The SADC average real GDP [gross domestic product] grew at about 5 percent in 2006, the same as in 2005," he said.
Angola has achieved the highest GDP annual growth rate of 18.6 percent this year, with Mozambique and Malawi at 7.9 percent and 7.4 percent, respectively. Excluding Zimbabwe, the SADC's inflation remained at 17.3 percent.
Zambia will host the SADC summit from August 16 to August 18.
