REGIONAL INDIC ATIVE STRATEGIC DEVELOPMENT PL AN 9 CHAPTER 2 Socio-Economic Situation in SADC Socio-economic situation in SADC This chapter describes and analyses the recent economic, the region witnessed the holding of regular elections. This human development and social trends in SADC based on trend has been sustained. These developments are selected socio-economic indicators. It brings out key attributable to improvements in political and economic issues and main economic and human development governance, democracy and an atmosphere of peace and challenges facing the region that will be addressed security that has prevailed since the beginning of the through the RISDP. The chapter, however, starts by making 1990s. Such an environment is crucial for poverty a brief reference to the political environment underlying reduction through cooperation and integration. the socio-economic situation in the last decade. 2.1 POLITICAL SITUATION 2.2 MAIN ECONOMIC CHARACTERISTICS AND CURRENT ECONOMIC DEVELOPMENTS After several decades of political and military confrontation and unrest, marked by economic decline and social instability, Southern Africa is now experiencing a great deal 2.2.1 Overall Economic Characteristics of political stability, which can lead to economic recovery. SADC is made up of fourteen Member States at different The achievement of political independence by SADC stages of development, but predominantly underdeveloped. Member States, which started in the early 1960s, was As a result, social and economic growth and development finally completed with the attainment of independence of across the region are heterogeneous, with some countries Namibia in 1990 and the end of the South African apartheid attaining high growth rates and others achieving very low regime in 1994. The recent achievement of peace in Angola growth rates. is another positive step towards greater political stability in In spite of the economic imbalances amongst its the region. The positive developments in DRC are also Member States and the relatively small size of the market encouraging and increase the prospects for more effective (eg., comparable to Belgium or Norway), in the African cooperation and integration of the SADC region. context SADC's aggregate GDP of USD 226.1 billion is During the 1990s, most SADC Member States more than double that of ECOWAS, and equivalent to adopted multi-party systems of government. Accordingly, more than half the aggregate GDP of Sub Saharan Africa