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South Africa in 2001: stability despite regional turbulence

Author

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  • Axel J. Halbach

Abstract

With the end of the Apartheid regime, hopes were high that South Africa could become a model of democratic development, political stability and economic growth for the whole subcontinent. A look at the record shows that South Africa has indeed lived up to these expectations. In 2000, real economic growth was 3.1%, the highest since 1996, resulting from favourable developments in agriculture, manufacturing and the services sector. But despite the overall favourable economic development, jobs declined in the formal sector, excluding agriculture, at a -2.7% pace in 2000 compared to -1.9% and -3.7% in 1998. Inflation rose to 7.8% (after 6.9% in 1999) so that poverty in the country has hardly been diminished. With the impact of the AIDS epidemic and the uncertainties emanating from anarchic conditions in Zimbabwe, dark clouds are looming on the horizon. Decisive for the coming years is whether noticeable improvements can be achieved for the poor population in the country.

Suggested Citation

  • Axel J. Halbach, 2001. "South Africa in 2001: stability despite regional turbulence," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 54(14), pages 15-22, October.
    • Handle: RePEc:ces:ifosdt:v:54:y:2001:i:14:p:15-22
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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