South African (SA) Finance Minister Enoch Godongwana has urged Southern African nations to drop isolated strategies and work as a unified bloc to protect the region from global economic fallout.
Speaking in Harare, Zimbabwe at a joint meeting of Southern African Development Community (SADC) Finance Ministers and the regional Peer Review Panel, Godongwana made it clear that relying purely on domestic policies is no longer enough to keep external pressures at bay.
“The regional economic outlook for SADC reflects considerable downside risks arising from global economic uncertainty and the ongoing conflict in the Middle East,” Godongwana noted. “Whilst as individual countries we will undertake countervailing policies and strategies, there is no better strategy than tackling these geopolitical spillovers on the basis of coordinated effort.”
The summit wrapped up with member states signing off on 16 key decisions aimed at pushing through structural reforms, building everyday economic resilience, and cutting through red tape to deepen regional trade. Godongwana is confident that these agreed steps will help cushion ordinary citizens against the severe cost-of-living pressures and unemployment challenges currently hitting the region.
–ChannelAfrica–
