South Africa: Escaping the Growth Doldrums

South Africa is an important economy in sub-Saharan Africa and when growth is high the entire region benefits. But the latest review of South Africa's economy shows real GDP growth is estimated at about 0.4 percent in 2019 and projected to moderately rise to 1½ percent in the medium term: a level insufficient to raise per-capita income and reduce unemployment. In this podcast, economist Ana Lucia Coronel says South Africa's growth slowdown in recent years stems in part from slow reform implementation to tackle structural impediments to growth. Coronel heads the South Africa team and oversees the writing of the IMF's annual assessment of South Africa's economy.

Inefficiencies in South Africa's state-owned enterprises have triggered costly government bailouts of electricity provider Eskom and others. (iStock by Getty Images/brazzo)