ECONOMIC OUTLOOK 2010-2011
South Africa
These country snapshots were brought to you courtesy of the OECD Economic Outlook, No 87, May 2010.
World Cup boost
M A L AW
significant slack in the economy Growth has resumed, and will suggest that there may be room receive a temporary boost from the World Cup in mid-2010. The for an additional policy rate cut from the current level of projected growth rate of 5% in 6.5%. Such a move should be 2011 will be above potential, weighed against still elevated but a negative output gap will inflation expectations, reflected remain. The current account in surprisingly high wage deficit is likely to widen, as settlements in 2009. As the imports will grow faster than Z I A gains strength, fiscal exports, but not to pre-crisis A M B recovery consolidation should advance levels. at least in line with the plans outlined in the 2010/11 budget. The slowdown in inflation, the strength of the currency and the
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The full edition contains more complete analysis and background, as well as a special focus on the crisis. It is packed with useful graphs and statistics from the OECD’s renowned databank.
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Population (000s) 2009 Area (000s sq km) Currency GDP market value (Billion US$) 2009 GDP PPP (Billion US$) Life expectancy at birth (Women, Men) 2009 Total labour force (000s) 2009 Government type % change unless otherwise indicated Real GDP growth Inflation Fiscal balance (% of GDP)1 Current account balance (% of GDP) 1. Data refer to fiscal years starting in April.
49 320 1 221 Rand 285.4 507.6 57.2; 53.5 17 383 Republic 2009 -1.8 7.1 -6.7 -4.0
2010 3.3 5.3 -6.1 -4.9
2011 5.0 5.2 -4.7 -5.5
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Source: OECD
Note about the OECD Observer snapshots: All GDP values in the tables are at current market prices and adjusted for purchasing power parities, based on the US. Data in the lower tables come from the OECD Economic Outlook preliminary edition. For the upper tables, sources include OECD in Figures, OECD Main Economic Indicators and other sources.
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