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GDP Growth and Public Finance in South Africa: FY2019/20

GDP Growth and Public Finance in South Africa: FY2019/20

GDP Growth and Public Finance in South Africa: FY2019/20
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  • Create Date Aug 7, 2019
  • Last Updated Apr 22, 2020

GDP Growth and Public Finance in South Africa: FY2019/20

The South African economy has faced declining real GDP growth mainly due to high unemployment and inequality which result in subdued aggregate demand, thereby disincentivising private investment and undermining growth. Real GDP has declined from 1.8% in 2014 to an annual average of 1.1% from 2015 to 2017. In response to these shifts in real GDP growth, the Government of South Africa (GoSA) has been restrained due to commitment to fiscal consolidation and relatively high inflation.

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