2020CopingwiththeCOVID-19PandemicSouthern Africa Economic Outlook 2020ACKNOWLEDGEMENTSTheSouthernAfricaRegionalEconomicOutlook2020waspreparedintheVicePresidencyforEconomicGovernanceandKnowledgeManagement,underthesupervisionandgeneraldirec-tionofCharlesLeyekaLufumpa,ActingVicePresidentandChiefEconomist,andEmmanuelPintoMoreira,Director,,LeadEconomist,eHonde,LeadEconomist,,DirectorandLouisKouakou,,,SoumailaKarambiri,StéphaneRegisHauhouot,SlaheddineSaidi,KokilBeejaye,-AmiguetandJustinKabaseleoftheBank’éAssociates(UK)andlayoutsupportbyYassoCréation(Tunisia). I: RECENT MACROECONOMIC TRENDS ANDDEVELOPMENTSGlobalMacroeconomicTrendsandDevelopmentsRecentMacroeconomicDevelopmentsinSouthernAfricaFallingRegionalGrowthtobeworsenedbyCOVID-petitivenesschallengesVolatileoilmarketdynamicsWeakexportperformanceassociatedwithCOVID-ountinthecontextofCOVID-arypoliciesDepreciatingexchangeratesDeteriorationinfiscalbalancesRisingregionalindebtednessFluctuatingForeignDirectInvestment(FDI)patternswithdeclininghistorictrendiii vviiviiviiiiXXi1 1558101113151820212325vviImprovinghumandevelopment,butunderminedbyhighlevelsof 26inequalityStubbornlyhighlevelsofpovertyandinequality 27Persistentlyhighlevelsofunemployment,thehighestinAfrica 29Employmentpredominantlyinagricultureandservicessectors 31ProjectedOutlook 32GDPGrowthForecasts moditypriceforecasts
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