South Africa: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

July 6, 2017

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South Africa: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa, (USA: International Monetary Fund, 2017) accessed December 22, 2024

Summary

This 2017 Article IV Consultation highlights that South Africa’s vulnerabilities have become more pronounced and are set to increase further unless economic growth revives. Following near-standstill in economic activity in 2016, growth is projected to increase to 1.0 percent in 2017 and 1.2 percent in 2018. The current account deficit is projected to decline to 3 percent of GDP in 2017, boosted by mining and agricultural exports. Consumer price inflation recently returned below 6 percent, owing in part to the easing of the drought, and is projected to remain marginally below the upper threshold of the 3–6 percent target band for the remainder of 2017 and in 2018.

Subject: Banking, Income, Labor, National accounts, Personal income, Public debt, Revenue administration

Keywords: Africa, CR, Deficit, Global, Headline inflation, IMF South Africa team, Income, Increase private sector participation, Indexation move, ISCR, Monetary policy, National minimum wage, Personal income, Technical assistance, U.S. dollar

Publication Details

Pages:

106
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/189
Stock No:

1ZAFEA2017001
ISBN:

9781484307557
ISSN:

1934-7685

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