South Africa: Staff Report for the 2014 Article IV Consultation

December 11, 2014

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South Africa: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 22, 2024

Summary

This 2014 Article IV Consultation highlights that South Africa’s growth has slowed in recent years, specifically relative to other emerging markets. Although weak trading partners’ growth contributed to the slowdown, increasingly binding structural constraints, such as protracted strikes and electricity constraints, have been important factors. Unemployment remains high at 25.5 percent. Notwithstanding expenditure discipline, the general government budget deficit was 4.5 percent of GDP in 2013, and public debt rose to 45 percent of GDP from 27 percent in 2008. The outlook is lackluster with considerable risks. Growth is projected to slow to 1.4 percent in 2014 and rebound only modestly to 2.1 percent in 2015 on improved industrial relations.

Subject: Employment, External debt, Infrastructure, Labor, National accounts, Public debt

Keywords: Africa, CR, Deficit, Employment, Food inflation, Global, IMF South Africa team, Inflation expectation, Inflation momentum, Inflation pressure, Infrastructure, ISCR, Real GDP, SARB's inflation band

Publication Details

Pages:

93
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/338
Stock No:

1ZAFEA2014001
ISBN:

9781498315838
ISSN:

1934-7685

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