Economy in South Africa

Honors English 10

Written by: Jewel Griffin

South Africa has one of the continents largest economies, yet South Africans still remain poor. With a 25.3 percent unemployment rate. Their economic policy has focused on controlling inflation the country has had many budget deficits that restrict its ability to deal with the economic issues. South Africa experienced a global economic crisis that has affected South Africa for the past four years. In 2013 South Africa's national government debt increased to 42.5 percent of (GDP). South Africa's economy grew by 1.5 percent in 2014 according to the preliminary estimates of real gross domestic product (GDP). All though South Africa has had some success in the automotive industry which is helping improve their economy as well. The current government faces growing pressure from special interest groups for the low income people delivering basic services to increase job growth.
Big image