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African Economic Outlook 2008

image of African Economic Outlook 2008

This fact-filled reference book brings the reader the latest available economic information for most of the economies of Africa.  Drawing on the expertise of both the African Development Bank and the OECD, it opens with an overview that examines the international environment, macroeconomic performance, progress towards attaining the Millennium Development Goals, and governance and political issues. This edition includes a special focus on technical and vocational skills development. The second part provides individual country reports for 35 countries.  Each country report provides an assessment of recent economic performance, projections for 2008 and 2009, an examination of structural issues, and a discussion of the political and social context.  The statistical annex presents 24 tables comparing economic and social variables across all the countries of Africa.

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South Africa

OECD Development Centre

AFTER PRIVATE CONSUMPTION FUELLED by easy credit resulted in a 5.4 per cent increase in realGDP in 2006, growth in 2007 is estimated at 4.9 per cent following slower consumption due to monetary tightening. Economic activity is expected to slow further to 4 per cent in 2008 as a result of the continued deceleration of private consumption and energy shortages. In 2009, growth is expected to remain strong although investment will replace consumption as its principle driver. Inflation, which rose sharply in 2007 to 6.5 per cent due to oil and food price increases, is expected to increase further to almost 7 per cent in 2008 before edging back into the target band of 3 to 6 per cent in 2009.

English

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