South Africa

THE SOUTH AFRICAN ECONOMY Brief economic history During the 1960s the South African economy expanded at an annual average rate of 5,5 percent and experienced average inflation of 2,4 percent. This compared with annual growth of 5,0 percent in industrialised Organisation for Economic Corporation and Development (OECD) countries and inflation of 2,9 percent. Dollar per capita income grew 73 percent during the decade. The 1970s were turbulent years internationally and the domestic economy grew by only 3,2 per cent per annum (…

…in the management of fiscal relations; and assist in the development of so uthern Africa through technical assistance, development finance and policy support. The Bank is seeking the agreement of the government and other stakeholders on its support role in the RDP. The Bank recognises that any new system of development support should encompass government, parastatals, civil society and NGOs in a supportive netw ork driven by a vision of a better life for everyone.