South Africa: 2013 Article IV Consultation

October 1, 2013

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South Africa: 2013 Article IV Consultation, (USA: International Monetary Fund, 2013) accessed November 21, 2024

Summary

This 2013 Article IV Consultation highlights that South Africa’s economy has underperformed other emerging markets and commodity exporters, exacerbating South Africa’s already-high levels of unemployment (25 percent) and inequality, and contributing to rising social tensions. At the same time, weak trading partner growth, coupled with declining competitiveness and countercyclical fiscal policy, have led to rising fiscal and current account deficits and made South Africa vulnerable to a prolonged reversal of capital inflows. The outlook is for continued sluggish growth and elevated current account deficits. Growth is projected at 2 percent in 2013 as weak consumption growth and lackluster private investment offset robust public investment and higher export growth.

Subject: Balance of payments, Current account deficits, External debt, Income, Labor, National accounts, Public debt, Public debt sustainability analysis

Keywords: Africa, Commodity exporter, CR, Current account, Current account deficits, Debt ratio, Deficit, Europe, Exchange rate, Global, IMF INS database, IMF South Africa team, Income, Inflation expectation, ISCR, JMAP World Bank IMF matrix, Sub-Saharan Africa, Terms of trade, U.S. dollar

Publication Details

Pages:

96
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2013/303
Stock No:

1ZAFEA2013001
ISBN:

9781616355241
ISSN:

1934-7685

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