Namibian minister says Southern African Customs Union member economies remain subdued

Southern African Customs Union (SACU)
Photo credit: The Villager

The economic performance of Southern African Customs Union (SACU) member countries has been very subdued and prospects of improvements are doubtful, Namibian Minister of Finance Calle Schlettwein said on Thursday.

The SACU groups Botswana, Lesotho, Namibia, South Africa, and Swaziland (eSwatini).

Schlettwein told a SACU meeting in Namibia that most member economies are projected to grow by between 0.5 percent and 4.2 percent in 2019, but some member states experienced contraction due to weak domestic demand, sluggish investment and dwindling exports.

“In light of the challenging economic environment, it is important for SACU to continue with the implementation of measures or programs that seek to promote domestic resilience and long-term inclusive economic growth,” he said. Enditem

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