IMF Staff Country Reports

South Africa: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa

June 6, 2023

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Format: Chicago

South Africa: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Africa, (USA: International Monetary Fund, 2023) accessed November 21, 2024

Summary

South Africa’s strong economic recovery from the COVID-19 pandemic is petering out. Growth moderated from 4.9 percent in 2021 to 2.0 percent in 2022 as the country was buffeted by Russia’s war in Ukraine, global monetary policy tightening, severe floods, and an unprecedented domestic energy crisis. Inflation rose above the target band though inflation expectations remained anchored. The current account moved back into a deficit after a temporary commodity-price driven surplus.

Subject: Expenditure, Inflation, International organization, Monetary policy, National accounts, Prices, Private investment, Public debt

Keywords: Africa, Anchor inflation expectation, Global, IMF South Africa team, IMF team, IMF-World Bank, Inflation, Keeping inflation expectation, Private investment, Spending plan, U.S. dollar

Publication Details

  • Pages:

    175

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2023/194

  • Stock No:

    1ZAFEA2023001

  • ISBN:

    9798400245312

  • ISSN:

    1934-7685

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