South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society

The global economic recovery remains uneven, as growth in the United States is gaining momentum but appears to be at risk of stalling in the Euro Area and Japan. U.S. growth is expected to gain pace over the rest of the year and into 2015 as employ...

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Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2014
Subjects:	ACCOUNTING ADVANCED COUNTRIES AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURE APARTHEID BALANCE SHEET BANK BOND BANK LENDING BANKING SECTOR BANKS BASIS POINTS BENCHMARK BENCHMARK STOCK BENEFICIARIES BENEFICIARY BOND ISSUANCE BONDS BORROWING COSTS BROKERS BUDGET DEFICIT BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPACITY CONSTRAINTS CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOWS CAPITAL OUTLAYS CASH TRANSFER CASH TRANSFERS CENTRAL BANK COMMODITY COMMODITY EXPORTS COMMUNICATIONS DEVELOPMENT CONFIDENCE INDEX CONSUMER SPENDING CONSUMPTION EXPENDITURE CONSUMPTION TAXES CONTINGENT LIABILITIES CORPORATE PROFITS CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT BURDEN DEBT SERVICING DEBT SERVICING COSTS DEFLATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DISCOURAGED WORKERS DISPOSABLE INCOME DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DOLLAR PRICES DOMESTIC ECONOMY DOMESTIC INFLATION DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKET STOCK EMERGING MARKETS EQUIPMENT EQUITIES EQUITY MARKETS EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTERS EXPORTS EXPOSURE EXTERNAL DEFICITS EXTREME POVERTY FAVORABLE FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FOOD PRICE FOOD PRICES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FUEL TAXES GDP GINI COEFFICIENT GLOBAL ECONOMIC PROSPECTS GLOBAL FINANCIAL MARKET GLOBAL TRADE GOVERNMENT ASSETS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DEBT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE GROWTH RATES HEALTH SERVICES HOUSEHOLD INCOME HOUSING INCOME DISTRIBUTION INCOME GROUP INCOME GROWTH INCOME INEQUALITY INCOME TAX INCOME TAXES INCOMES INDEBTEDNESS INFLATION INFLATION EXPECTATIONS INFLATION TARGET INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL RESERVES INTERNATIONAL TRADE INVENTORIES INVESTMENT DECISIONS INVESTMENT SPENDING INVESTOR CONFIDENCE JOB CREATION LABOR MARKET LABOR MARKETS LEVY LONG-TERM BOND MARKETS LONG-TERM INVESTMENT LORENZ CURVE MACROECONOMICS MARKET CONDITIONS MARKET PRICES MARKET VOLATILITY METALS MIDDLE-INCOME COUNTRIES MIDDLE-INCOME COUNTRY MONETARY FUND MONETARY POLICY MUNICIPALITIES NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL TREASURY NET DEBT NET EXPORTS NEW ENTRANTS OIL PRICES OLD-AGE PENSIONS OUTPUT OUTPUT GAP PAYROLL TAXES PENSION PER CAPITA INCOME PERSONAL INCOME PERSONAL INCOME TAXES PORTFOLIO PORTFOLIO FLOWS POWER PARITY PRODUCTIVITY PROPERTY TAXES PUBLIC DEBT PUBLIC FINANCES PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GDP REAL INCOME REAL INTEREST REAL INTEREST RATES REDISTRIBUTIVE EFFECTS RESERVE RESERVE BANK RESERVES RESOURCE ALLOCATION RETURN RETURNS RISK AVERSE RISKY ASSETS SAFETY NET SAVINGS SKILLS SHORTAGES SOCIAL SAFETY NET SOCIAL SERVICES STOCK EXCHANGE STOCK INDEXES STOCK MARKETS SWAPS TAX TAX ADMINISTRATION TAX COLLECTIONS TAX INCENTIVE TAX POLICY TAX RATE TAX SYSTEM TAXATION THE SOUTH AFRICAN RESERVE BANK TRADE BALANCE TRADE DEFICIT TRADE TAXES TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE GROWTH WAGES WATER SUPPLY WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/2014/11/20339043/south-africa-economic-update-fiscal-policy-redistribution-unequal-society http://hdl.handle.net/10986/20661

id	okr-10986-20661
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCOUNTING ADVANCED COUNTRIES AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURE APARTHEID BALANCE SHEET BANK BOND BANK LENDING BANKING SECTOR BANKS BASIS POINTS BENCHMARK BENCHMARK STOCK BENEFICIARIES BENEFICIARY BOND ISSUANCE BONDS BORROWING COSTS BROKERS BUDGET DEFICIT BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPACITY CONSTRAINTS CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOWS CAPITAL OUTLAYS CASH TRANSFER CASH TRANSFERS CENTRAL BANK COMMODITY COMMODITY EXPORTS COMMUNICATIONS DEVELOPMENT CONFIDENCE INDEX CONSUMER SPENDING CONSUMPTION EXPENDITURE CONSUMPTION TAXES CONTINGENT LIABILITIES CORPORATE PROFITS CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT BURDEN DEBT SERVICING DEBT SERVICING COSTS DEFLATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DISCOURAGED WORKERS DISPOSABLE INCOME DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DOLLAR PRICES DOMESTIC ECONOMY DOMESTIC INFLATION DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKET STOCK EMERGING MARKETS EQUIPMENT EQUITIES EQUITY MARKETS EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTERS EXPORTS EXPOSURE EXTERNAL DEFICITS EXTREME POVERTY FAVORABLE FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FOOD PRICE FOOD PRICES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FUEL TAXES GDP GINI COEFFICIENT GLOBAL ECONOMIC PROSPECTS GLOBAL FINANCIAL MARKET GLOBAL TRADE GOVERNMENT ASSETS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DEBT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE GROWTH RATES HEALTH SERVICES HOUSEHOLD INCOME HOUSING INCOME DISTRIBUTION INCOME GROUP INCOME GROWTH INCOME INEQUALITY INCOME TAX INCOME TAXES INCOMES INDEBTEDNESS INFLATION INFLATION EXPECTATIONS INFLATION TARGET INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL RESERVES INTERNATIONAL TRADE INVENTORIES INVESTMENT DECISIONS INVESTMENT SPENDING INVESTOR CONFIDENCE JOB CREATION LABOR MARKET LABOR MARKETS LEVY LONG-TERM BOND MARKETS LONG-TERM INVESTMENT LORENZ CURVE MACROECONOMICS MARKET CONDITIONS MARKET PRICES MARKET VOLATILITY METALS MIDDLE-INCOME COUNTRIES MIDDLE-INCOME COUNTRY MONETARY FUND MONETARY POLICY MUNICIPALITIES NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL TREASURY NET DEBT NET EXPORTS NEW ENTRANTS OIL PRICES OLD-AGE PENSIONS OUTPUT OUTPUT GAP PAYROLL TAXES PENSION PER CAPITA INCOME PERSONAL INCOME PERSONAL INCOME TAXES PORTFOLIO PORTFOLIO FLOWS POWER PARITY PRODUCTIVITY PROPERTY TAXES PUBLIC DEBT PUBLIC FINANCES PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GDP REAL INCOME REAL INTEREST REAL INTEREST RATES REDISTRIBUTIVE EFFECTS RESERVE RESERVE BANK RESERVES RESOURCE ALLOCATION RETURN RETURNS RISK AVERSE RISKY ASSETS SAFETY NET SAVINGS SKILLS SHORTAGES SOCIAL SAFETY NET SOCIAL SERVICES STOCK EXCHANGE STOCK INDEXES STOCK MARKETS SWAPS TAX TAX ADMINISTRATION TAX COLLECTIONS TAX INCENTIVE TAX POLICY TAX RATE TAX SYSTEM TAXATION THE SOUTH AFRICAN RESERVE BANK TRADE BALANCE TRADE DEFICIT TRADE TAXES TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE GROWTH WAGES WATER SUPPLY WITHDRAWAL
spellingShingle	ACCOUNTING ADVANCED COUNTRIES AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURE APARTHEID BALANCE SHEET BANK BOND BANK LENDING BANKING SECTOR BANKS BASIS POINTS BENCHMARK BENCHMARK STOCK BENEFICIARIES BENEFICIARY BOND ISSUANCE BONDS BORROWING COSTS BROKERS BUDGET DEFICIT BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPACITY CONSTRAINTS CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOWS CAPITAL OUTLAYS CASH TRANSFER CASH TRANSFERS CENTRAL BANK COMMODITY COMMODITY EXPORTS COMMUNICATIONS DEVELOPMENT CONFIDENCE INDEX CONSUMER SPENDING CONSUMPTION EXPENDITURE CONSUMPTION TAXES CONTINGENT LIABILITIES CORPORATE PROFITS CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT BURDEN DEBT SERVICING DEBT SERVICING COSTS DEFLATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DISCOURAGED WORKERS DISPOSABLE INCOME DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DOLLAR PRICES DOMESTIC ECONOMY DOMESTIC INFLATION DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKET STOCK EMERGING MARKETS EQUIPMENT EQUITIES EQUITY MARKETS EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTERS EXPORTS EXPOSURE EXTERNAL DEFICITS EXTREME POVERTY FAVORABLE FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FOOD PRICE FOOD PRICES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FUEL TAXES GDP GINI COEFFICIENT GLOBAL ECONOMIC PROSPECTS GLOBAL FINANCIAL MARKET GLOBAL TRADE GOVERNMENT ASSETS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DEBT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE GROWTH RATES HEALTH SERVICES HOUSEHOLD INCOME HOUSING INCOME DISTRIBUTION INCOME GROUP INCOME GROWTH INCOME INEQUALITY INCOME TAX INCOME TAXES INCOMES INDEBTEDNESS INFLATION INFLATION EXPECTATIONS INFLATION TARGET INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL RESERVES INTERNATIONAL TRADE INVENTORIES INVESTMENT DECISIONS INVESTMENT SPENDING INVESTOR CONFIDENCE JOB CREATION LABOR MARKET LABOR MARKETS LEVY LONG-TERM BOND MARKETS LONG-TERM INVESTMENT LORENZ CURVE MACROECONOMICS MARKET CONDITIONS MARKET PRICES MARKET VOLATILITY METALS MIDDLE-INCOME COUNTRIES MIDDLE-INCOME COUNTRY MONETARY FUND MONETARY POLICY MUNICIPALITIES NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL TREASURY NET DEBT NET EXPORTS NEW ENTRANTS OIL PRICES OLD-AGE PENSIONS OUTPUT OUTPUT GAP PAYROLL TAXES PENSION PER CAPITA INCOME PERSONAL INCOME PERSONAL INCOME TAXES PORTFOLIO PORTFOLIO FLOWS POWER PARITY PRODUCTIVITY PROPERTY TAXES PUBLIC DEBT PUBLIC FINANCES PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GDP REAL INCOME REAL INTEREST REAL INTEREST RATES REDISTRIBUTIVE EFFECTS RESERVE RESERVE BANK RESERVES RESOURCE ALLOCATION RETURN RETURNS RISK AVERSE RISKY ASSETS SAFETY NET SAVINGS SKILLS SHORTAGES SOCIAL SAFETY NET SOCIAL SERVICES STOCK EXCHANGE STOCK INDEXES STOCK MARKETS SWAPS TAX TAX ADMINISTRATION TAX COLLECTIONS TAX INCENTIVE TAX POLICY TAX RATE TAX SYSTEM TAXATION THE SOUTH AFRICAN RESERVE BANK TRADE BALANCE TRADE DEFICIT TRADE TAXES TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE GROWTH WAGES WATER SUPPLY WITHDRAWAL World Bank South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
geographic_facet	Africa South Africa
relation	South Africa economic update;issue no. 6
description	The global economic recovery remains uneven, as growth in the United States is gaining momentum but appears to be at risk of stalling in the Euro Area and Japan. U.S. growth is expected to gain pace over the rest of the year and into 2015 as employment prospects boost real income growth and confidence. Following the Euro Area s exit from recession in 2013, GDP was flat in 2014, and preliminary data for the third quarter suggest slowing growth momentum amid weak domestic demand, ongoing balance sheet adjustments, a fragmented banking sector, and rising geopolitical risks. In Japan, a sales tax hike in April caused a more significant contraction in activity than expected, while exports failed to pick up.
format	Publications & Research :: Working Paper
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
title_short	South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
title_full	South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
title_fullStr	South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
title_full_unstemmed	South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society
title_sort	south africa economic update : fiscal policy and redistribution in an unequal society
publisher	Washington, DC
publishDate	2014
url	http://documents.worldbank.org/curated/en/2014/11/20339043/south-africa-economic-update-fiscal-policy-redistribution-unequal-society http://hdl.handle.net/10986/20661
_version_	1764445836231573504
spelling	okr-10986-206612021-04-23T14:03:56Z South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society World Bank ACCOUNTING ADVANCED COUNTRIES AGGREGATE DEMAND AGRICULTURAL COMMODITIES AGRICULTURE APARTHEID BALANCE SHEET BANK BOND BANK LENDING BANKING SECTOR BANKS BASIS POINTS BENCHMARK BENCHMARK STOCK BENEFICIARIES BENEFICIARY BOND ISSUANCE BONDS BORROWING COSTS BROKERS BUDGET DEFICIT BUSINESS ENVIRONMENT BUSINESS ENVIRONMENTS CAPACITY CONSTRAINTS CAPITAL FLOWS CAPITAL FORMATION CAPITAL INFLOWS CAPITAL OUTLAYS CASH TRANSFER CASH TRANSFERS CENTRAL BANK COMMODITY COMMODITY EXPORTS COMMUNICATIONS DEVELOPMENT CONFIDENCE INDEX CONSUMER SPENDING CONSUMPTION EXPENDITURE CONSUMPTION TAXES CONTINGENT LIABILITIES CORPORATE PROFITS CREDIT GROWTH CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DEBT BURDEN DEBT SERVICING DEBT SERVICING COSTS DEFLATION DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DISCOURAGED WORKERS DISPOSABLE INCOME DIVIDEND DIVIDEND PAYMENTS DIVIDENDS DOLLAR PRICES DOMESTIC ECONOMY DOMESTIC INFLATION DURABLE DURABLE GOODS ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC PERFORMANCE EMERGING MARKET EMERGING MARKET COUNTRIES EMERGING MARKET ECONOMIES EMERGING MARKET STOCK EMERGING MARKETS EQUIPMENT EQUITIES EQUITY MARKETS EUROPEAN CENTRAL BANK EXCHANGE RATE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTERS EXPORTS EXPOSURE EXTERNAL DEFICITS EXTREME POVERTY FAVORABLE FINANCING FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED CAPITAL FOOD PRICE FOOD PRICES FORECASTS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FUEL TAXES GDP GINI COEFFICIENT GLOBAL ECONOMIC PROSPECTS GLOBAL FINANCIAL MARKET GLOBAL TRADE GOVERNMENT ASSETS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT EXPENDITURE GOVERNMENT GUARANTEES GOVERNMENT REVENUE GOVERNMENT REVENUES GOVERNMENT SPENDING GROSS DEBT GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE GROWTH RATES HEALTH SERVICES HOUSEHOLD INCOME HOUSING INCOME DISTRIBUTION INCOME GROUP INCOME GROWTH INCOME INEQUALITY INCOME TAX INCOME TAXES INCOMES INDEBTEDNESS INFLATION INFLATION EXPECTATIONS INFLATION TARGET INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSURANCE INTEREST PAYMENTS INTEREST RATES INTERNATIONAL BANK INTERNATIONAL RESERVES INTERNATIONAL TRADE INVENTORIES INVESTMENT DECISIONS INVESTMENT SPENDING INVESTOR CONFIDENCE JOB CREATION LABOR MARKET LABOR MARKETS LEVY LONG-TERM BOND MARKETS LONG-TERM INVESTMENT LORENZ CURVE MACROECONOMICS MARKET CONDITIONS MARKET PRICES MARKET VOLATILITY METALS MIDDLE-INCOME COUNTRIES MIDDLE-INCOME COUNTRY MONETARY FUND MONETARY POLICY MUNICIPALITIES NATIONAL DEVELOPMENT NATIONAL INCOME NATIONAL TREASURY NET DEBT NET EXPORTS NEW ENTRANTS OIL PRICES OLD-AGE PENSIONS OUTPUT OUTPUT GAP PAYROLL TAXES PENSION PER CAPITA INCOME PERSONAL INCOME PERSONAL INCOME TAXES PORTFOLIO PORTFOLIO FLOWS POWER PARITY PRODUCTIVITY PROPERTY TAXES PUBLIC DEBT PUBLIC FINANCES PUBLIC POLICY PUBLIC SERVICES PUBLIC SPENDING PURCHASING POWER REAL ESTATE REAL GDP REAL INCOME REAL INTEREST REAL INTEREST RATES REDISTRIBUTIVE EFFECTS RESERVE RESERVE BANK RESERVES RESOURCE ALLOCATION RETURN RETURNS RISK AVERSE RISKY ASSETS SAFETY NET SAVINGS SKILLS SHORTAGES SOCIAL SAFETY NET SOCIAL SERVICES STOCK EXCHANGE STOCK INDEXES STOCK MARKETS SWAPS TAX TAX ADMINISTRATION TAX COLLECTIONS TAX INCENTIVE TAX POLICY TAX RATE TAX SYSTEM TAXATION THE SOUTH AFRICAN RESERVE BANK TRADE BALANCE TRADE DEFICIT TRADE TAXES TRANSPORT UNEMPLOYMENT UNEMPLOYMENT RATE VALUE ADDED WAGE GROWTH WAGES WATER SUPPLY WITHDRAWAL The global economic recovery remains uneven, as growth in the United States is gaining momentum but appears to be at risk of stalling in the Euro Area and Japan. U.S. growth is expected to gain pace over the rest of the year and into 2015 as employment prospects boost real income growth and confidence. Following the Euro Area s exit from recession in 2013, GDP was flat in 2014, and preliminary data for the third quarter suggest slowing growth momentum amid weak domestic demand, ongoing balance sheet adjustments, a fragmented banking sector, and rising geopolitical risks. In Japan, a sales tax hike in April caused a more significant contraction in activity than expected, while exports failed to pick up. 2014-12-05T17:03:01Z 2014-12-05T17:03:01Z 2014-11 http://documents.worldbank.org/curated/en/2014/11/20339043/south-africa-economic-update-fiscal-policy-redistribution-unequal-society http://hdl.handle.net/10986/20661 English en_US South Africa economic update;issue no. 6 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Publications & Research :: Working Paper Africa South Africa

South Africa Economic Update : Fiscal Policy and Redistribution in an Unequal Society

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