Economic growth is projected to rebound in 2017 and strengthen further in 2018, driven by household consumption and investment. In particular, the improvement in electricity production removes bottlenecks and should boost confidence and therefore investment, provided that political uncertainties dissipate. Rising production costs, together with the earlier rand appreciation should weigh on exports. 

South Africa has made rapid progress in educational attainment compared with other emerging countries, with near full enrolment in primary and secondary schooling. Pre-primary schooling has expanded fast too, and so to a lesser extent has third-level education.

©Mark Wessels/Reuter

In 2010 South Africa became the first African country to host the FIFA soccer World Cup, which is one of the biggest global sporting events on earth. Was it a triumph and what lessons could be drawn? OECD Observer: You were a member of the Local Organising Committee for the FIFA 2010 Soccer World Cup. How big a challenge was that for your country?

South Africa Snapshot 2013

The budget deficit for the OECD area as a whole probably peaked at around 7.5% of GDP in 2010. That’s the equivalent of some US$3.3 trillion. A decrease to around 6.1% of GDP is expected in 2011, which will still be high by historical standards. But while the need to restore public finances is a global challenge, the state of government balance sheets varies widely. Economic starting points, causes of deficits and budgetary strategies also vary. Some countries have started down the road of austerity, others are maintaining stimulus and plan to rein in their deficits from 2011.

In December 2010 we asked finance ministers from a broad selection of countries facing different fiscal challenges–France, Germany, Indonesia, Ireland, Korea, Mexico, New Zealand and South Africa–to answer this question: “What actions is your government taking to bolster public finances, while upholding growth and services?”

In 2007, South Africa signed up to the OECD Anti-Bribery Convention and joined the Working Group on Bribery in International Business Transactions, a group made up of representatives from all 38 signatory countries which monitors the convention’s implementation and enforcement.

OECD faces a huge challenge of image. You insist that the organisation, known for its in-depth analyses and reliable statistics, aims to represent all relevant economies. Emerging countries, however, cultivate the impression that the OECD, despite its co-operation and development efforts well beyond its membership, is still the voice of "rich nations" only.

Economic data

GDP growth: +0.6% Q1 2019 year-on-year
Consumer price inflation: 2.3% May 2019 annual
Trade: +0.4% exp, -1.2% imp, Q1 2019
Unemployment: 5.2% July 2019
Last update: 9 September 2019

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