Transcription of SOUTH AFRICA - OECD
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SOUTH AFRICA - OECD
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIESOECD ECONOMIC OUTLOOK, VOLUME 2018 ISSUE1 PRELIMINARY VERSION OECD 2018218 SOUTH AFRICAE conomic growth is set to strengthen in 2018-19, driven by increased business andconsumer confidence. A favourable outlook in trading partners will benefit consumption will expand, albeit at a slightly lower rate than in 2017 due to taxincreases. Employment trends remain a is projected to remain in the target range, reflecting an assumed stablestrong exchange rate, which lessens the effect of higher international oil prices and thusthe upward pressure from the VAT hike. monetary policy is projected to be moderatelyexpansionary, which is appropriate to support growth. The government budget for2018-19 remains tight, but tax reforms will create some fiscal room for much neededinvestment in higher education and social benefits. Once the fiscal situation improves,government debt reduction needs to be advanced.
3. DEVELOPMENTS IN INDIVIDUAL OECD AND SELECTED NON-MEMBER ECONOMIES OECD ECONOMIC OUTLOOK,VOLUME 2018 ISSUE1–PRELIMINARY VERSION © OECD 2018 219 As fiscal policy tightens, monetary easing …
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