Economic and social conditions in Southern Africa 2003 : the challenge of private sector development in Southern Africa

Abstract

In Southern Africa, the economic performance of the 11 countries improved in 2003. Preliminary estimates by ECA-SA indicate that overall GDP grew by an average of 3.6 per cent as against 2.9 per cent in 2002. This relative improvement was due to a combined effect of good weather conditions that positively affected agricultural output and improved economic policies. Despite this modest improvement, economic growth has been unable to have a significant impact on poverty, either because it is insufficient or is insufficiently pro-poor in both its quality and structure.