South Africa: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussions; and Statement by the Executive Director for South Africa
October 22, 2008
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
This 2008 Article IV Consultation highlights that South Africa’s economic performance has strengthened in the last several years, with real GDP growing by 5–5½ percent in 2005–07, inflation declining to mid-single digits until recently, and employment growing steadily. However, 2008 saw a slowdown in activity, reflecting the cumulative impact of electricity power shortages, the global slowdown, and past monetary tightening. Executive Directors have welcomed the authorities’ pursuit of a prudent fiscal policy, and their intention to maintain a broadly neutral fiscal stance in 2008.
Subject: Balance of payments, Banking, Current account deficits, Expenditure, External debt, Inflation, Prices, Public debt, Public investment spending
Keywords: Africa, break-even inflation rates, CPIX inflation, CR, Current account deficits, debt service, Global, household debt service, Inflation, inflation outlook, inflation pressure, ISCR, Public investment spending, repurchase rate, Southern Africa
Pages:
63
Volume:
2008
DOI:
Issue:
348
Series:
Country Report No. 2008/348
Stock No:
1ZAFEA2008002
ISBN:
9781451841077
ISSN:
1934-7685
