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South Africa's informal sector contributes 8% of the country's GDP and supports 27% of all working people. The South African Local Economic Development Network values the informal economy at 28% of SA's GDP. [109] Given the relevance of this input, there is a constant interest in developing actions on an inclusive urban planning for the working ...
General topics of focus include health issues, inflation issues, monetary and fiscal policy issues, regulatory issues and information on the South African Political Economy. According to the Journal Citation Reports , the journal has a 2016 impact factor of 0.685, ranking it 225th out of 347 journals in the category "Economics".
The National Development Plan 2030 is an important policy document of the South African government drafted in August 2012 by the National Planning Commission, a special ministerial body first constituted in 2009 by President Jacob Zuma. The Plan contains a series of proposals to eliminate poverty and reduce inequality by 2030. [1] [2]
In South Africa, this idea is known as the first (capitalist, high-profit industries) and second (underdeveloped) economies. [4] The first economy contributes to the majority of South Africa's wealth and is integrated within the world economy. The second economy consists of low-skilled and outdated jobs.
The energy crisis has significantly limited economic growth in South Africa thereby preventing the country from resolving high rates of unemployment. [ 27 ] [ 125 ] The power shortage is estimated to have reduced economic growth in 2021 by 3% thereby costing the country an estimated 350,000 potential new jobs for that year alone. [ 27 ]
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
Land reform in South Africa is the promise of "land restitution" to empower farm workers (who now have the opportunity to become farmers) and reduce inequality. This also refers to aspects such as, property, possibly white-owned businesses. [ 1 ]
After an initial rebound from the 2009 world economic crisis, Africa's economy was undermined in the year 2011 by the Arab uprisings. The continent's growth fell back from 5% in 2010 to 3.4% in 2011. With the recovery of North African economies and sustained improvement in other regions, growth across the continent is expected to accelerate to ...