South Africa

Jian Gao (), Ruitao Jia () and Qing Su ()
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Jian Gao: Tsinghua University
Ruitao Jia: Tsinghua University
Qing Su: Tsinghua University

A chapter in G20 Entrepreneurship Services Report, 2022, pp 241-251 from Springer

Abstract: Abstract Affected by various factors, South Africa’s GDP growth rate in 2016 was only 0.3% (vs. 1.3% in 2015 and 1.31% in 2017), the lowest since 2009. South Africa’s fiscal revenue has fallen short of expenditure since 2009, and government debt level has continued to rise, with the unemployment rate remaining high (In the fiscal year 2016/17, South AfricaSouth Africa posted its fiscal revenue of 1297.3 billion rand [equivalent to 104.7 billion US dollars], its fiscal expenditure stood at 1445.2 billion rand [equivalent to 116.7 billion US dollars], and the debt balance of the South African government was 2233 billion rand [equivalent to 180.3 billion US dollars]. The unemployment rate in South AfricaSouth Africa was 27.33% in 2017 [vs. 26.5% in 2016].). The sluggish economy causes a great pressure on the South Africa’s entrepreneurship, innovation, and small and medium enterprise (SME) development.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-6787-9_18

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DOI: 10.1007/978-981-16-6787-9_18

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