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19:50, August 10, 2007 |
Southern African Development Community (SADC) said the regional bloc's economies are well- positioned to attain higher growth levels in the coming years, Zambia Times reported on Friday.
SADC Executive Secretary Tomaz Salomao was quoted as saying that the SADC economic performance had improved in terms of growth in output and per capita income in 2006 as compared to 2005, and economic growth outlook for the region was projected to be at approximately seven percent in 2007.
Salomao said the annual inflation rates for SADC member states were generally moving in the right direction even though it is still higher than the sub-Saharan African average of 13 percent for 2007 and also remains higher than the SADC macro-economic target of achieving single digit inflation by 2008.
Salomao said the food security situation for the region is satisfactory for the period 2006-2007 due to the bumper harvests experienced in most member countries.
Preliminary forecast of regional food security and vulnerability situation for 2007-2008 indicated a regional deficit of 4.35 million tons compared to 3.50 million tons in 2006-2007, he said.
He also said SADC attached importance to food security because it was the first line of defense for any country and that the region could not continue to beg for food from outside.
Source: Xinhua
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