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

International Monetary Fund

No 2008/348, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; inflation outlook; CPIX inflation; debt service; break-even inflation rates; household debt service; inflation pressure; repurchase rate; Current account deficits; Inflation; Public investment spending; Africa; Global; Southern Africa (search for similar items in EconPapers)
Pages: 63
Date: 2008-10-22
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