South african economic outlook 2015 pdf

Central to this is the restoring of confidence amongst investors. This 11th edition of the african economic outlook aeo is marked by a twintrack performance. Afdb, oecd, undp 2015 african economic outlook 3 foreword the african economic outlook 2015 is the 14th edition of this annual report which results from a unique. African economic outlook 2016 african development bank. Africas economic performance held firm in 2015, amid global headwinds and. Government unveils stimulus to contain the impact of covid19 amid a dire fiscal outlook. Economic research and statistics department south african reserve bank p o box 427 pretoria 0001 tel.

Dec 10, 2019 the outlook for the south african economy over the medium term is not very inspiring, despite some improvement from 2017 onwards. This years edition will for the first time cover eritrea and south sudan. High inequality is perpetuated by a legacy of exclusion and the nature of economic growth, which is not propoor and does. Reserve bank of zimbabwe governor dr john mangudya has likened the southern african countrys ongoing economic woes to a demon that cant be touched, but can be felt. Economic overview in brief the south african economy, which grew by an estimated 0. At the heart of this slow growth are the major headwinds of high inflation, increasing government debt, and slow growth in south africa, which contributes about twothirds of the regions gdp. These measures have hampered private sector activities. Real economic growth is only projected to breach the 3% level by 2020, averaging 2. The most marked change is that of the mining sector. Inequality has been persistent, having increased from 0. South africa, guy blaise nkamleu and frederick mugisha south. African economic outlook 2016 algeria angola benin botswana burkina faso burundi cabo verde.

Policy on the reproduction of images of south african currency. In this equilibrium, slow growth and high inequality reinforce each. This page has economic forecasts for south africa including a longterm outlook for the next decades, plus mediumterm expectations for the next four quarters and shortterm market predictions for the next release affecting the south africa economy. The strongest growth is projected to be in south and east asia as well as much of africa, which is starting from a low base. The 2019 african economic outlook highlights that macroeconomic stabilization and employment outcomes are better when industry leads growth, suggesting that industrialization is a robust path to rapid job creation. South africas gross domestic product gdp forecast for 2015 has also been revised down. Private consumption has been constrained due to recent tax changes and slow credit growth. Pmi falls at the fastest pace in the surveys history in april. This 14th edition analyses regional development and spatial inclusion challenges faced. The african economic outlook 2015 analyses africas growing role in the world economy and predicts the continents twoyear prospects in.

South africa economy gdp, inflation, cpi and interest rate. The annual african economic outlook aeo is an essential reference for monitoring the. The african economic outlook bridges a critical knowledge gap on the. On 21 may, the monetary policy committee mpc of the south african reserve bank sarb slashed its main lending rate by 50 basis points to 3. World bank slashes south africas economic growth outlook. Weaker global growth prospects and slower growth in key emerging markets introduce a degree of uncertainty into the forecast, with volatility expected in capital markets and exchange rates. The global economic growth outlook has improved, but is clouded by policy uncertainty as. Fulltime employment decreased by 26 000 to 9 103 000, and part. This chapter analyses recent trends in external financial flows to africa and domestic revenue collection. South africa maynier submits plea to save 100 000 construction jobs may 19 2020 21. General features and composition of groups in the world economic outlook classification 145 table a. Egypt 119th and libya 126th do less well than the north african average, while a number of countrieszambia, gabon, lesotho, ghana, senegal, cape verde, cote divoire, cameroon, and ethiopiado.

This annual report examines africas performance in crucial areas. Economic outlook in brief the south african economy is forecast to grow by 2 per cent in 2015, with a gradual improvement to 3 per cent in 2017. Since the previous economic update of september 2017, a number of important events have improved south africas economic. African economic outlook is a reference website which focuses on the economics of most african countries. African economic outlook 2015 african development bank. Growth in central, north and west africa was above 3%, while southern africa grew by.

The africa competitiveness report 2015 xvii overview increasing the quality of education. Top 20 african countries by dimensions of human development, 2015. The western capes finance and economic opportunities ministry has submitted a plea to save 100 000 jobs as the country stares down the barrel at a collapse of the construction sector in south africa. In 2015, subsaharan africa excluding south africa grew faster than the. On 21 april, president cyril ramaphosa announced measures to combat the economic impact of the covid19 pandemic totaling zar 500 billion about 10% of gdp, which aim to support businesses, retain employment and shield those most affected by the crisis. The southern african development community sadc has taken substantial steps toward sustainable and deeper regional integration more than other regional economic communities recs except the ast african e community. Atemporaryboostinbusinessandconsumerconfidence at the beginning of the year gave way to growing policy uncertainty that weakened investment. Deciles labor incomes shares, 2015 and 2030, baseline scenario 40.

This 14th edition analyses regional development and spatial inclusion challenges faced by the continent. Most importantly, increasing levels and quality of education will be essential to raising productivity across all sectors. We support the implementation of the african unions strategic vision at continental, regional, national and local levels by coproducing cuttingedge data and analysis with our african member states and partners, and facilitating an open dialogue on policies to accelerate that transformation. Debt dynamics and development finance in africa, was prepared by a team of unctad contributors, headed by junior roy davis, and composed of the following people.

The nigerian naira was about 5 percent stronger than its 2014 average. Mar 28, 2020 the outlook for the domestic economy has worsened on the covid19 pandemic, we now forecast 0. Bineswaree bolaky, ange bella ndayisenga, laura paez and claudia roethlisberger. Johannesburg the world bank on tuesday slashed the countrys economic growth outlook for this year to 0. Africa competitiveness report 2015 reports world economic. African business forum, formed in 2015, and stakeholder meetings convened by the sadc. Southern africa economic outlook 2019 african development bank. The african economic outlook 2015 analyses africas growing role in the world economy and predicts the continents twoyear prospects in crucial areas. Both projections and policy considerations are those of the imf staff and do not necessarily represent the views of the imf, its executive board, or imf management. Demographic, employment, and wage trends in south africa. Africas sustainable economic and social transformation is a global priority. World economic outlook international monetary fund. South africa remains a dual economy with one of the highest inequality rates in the world, with a consumption expenditure gini coefficient of 0. This th edition of the african economic outlook underscores the continents resilience to regional and global headwinds.

Subdued domestic demand has weakened growth theeconomyslowedin2018. A third group of african economiestunisia, namibia, kenya, and seychellescluster between the latin american and north african averages. South africa is at risk of seeing an economic growth rate of below 1. It explores how foreign direct investment, portfolio investment, remittances and official development assistance have evolved in 2015 and 2016, and their outlook for 2017. Annual economic reports south african reserve bank.

The south african economy exited its technical recession in the third quarter of 2018 as growth recovered to 2. Real gdp over the period january to september 2018 was, however, only 0. Excluding these countries and south africa, growth. The june 2019 quarterly employment survey, released by statistics south africa, showed that an estimated 10 172 000 people were employed in the formal nonagricultural sector of the south african economy, which is down by 2 000 from the 10 174 000 recorded in the previous quarter. The african economic outlook 2017 presents the continents current state of affairs and forecasts its situation for the coming two years. South african, african and global economic news fin24. President ramaphosa campaigned for the party presidency in 2017 with an economic recovery plan that he referred to as a new deal for south africa.

However, not all areas of south africa s economy performed poorly in 2019. The sarb estimates that the neutral interest rate neither promotesaccommodates nor weakensrestricts economic growth is about 2. The southern africa economy is projected to grow slower than others in the continent at 2. Zim economic woes a demon that cant be touched, says central bank governor may 21 2020 21. The african economic outlook aeo celebrates its 15th edition this year. Thematic edition regional development and spatial inclusion african economic outlook 2015. In 2015, subsaharan africa excluding south africa grew faster than the continental average. In 20, africa grew by about 4%, on average, compared. Early in 2015, the central bank of nigeria introduced a range of administrative measures to stem the demand for foreign currencies. South african parliament elected him as president of the republic of south africa in february 2018. South africas reserve bank sarb does not intervene in currency markets in order to influence the level of the rand. The african economic outlook 2015 is the 14th edition of this annual report which results from a unique. Classification by world economic outlook groups and their shares in aggregate gdp, exports of goods and services, and population, 2014 147 table b.