South Africa : 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussions; and Statement by the Executive Director for South Africa

This 2008 Article IV Consultation highlights that South Africa's economic performance has strengthened in the last several years, with real GDP growing by 5-5½ percent in 2005-07, inflation declining to mid-single digits until recently, and employment growing steadily. However, 2008 saw a slowdown in activity, reflecting the cumulative impact of electricity power shortages, the global slowdown, and past monetary tightening. Executive Directors have welcomed the authorities' pursuit of a prudent fiscal policy, and their intention to maintain a broadly neutral fiscal stance in 2008.