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Structural Adjustments in the South African Economy

Structural Adjustments in the South African Economy. Presented by: Dawie Roodt 22 June 2006. Fiscal Policy. State Finances. State Finances. State Finances. Results. Lower interest payments More social expenditure Better ratings Strong demand. Monetary Policy. Gold $800.

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Structural Adjustments in the South African Economy

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  1. Structural Adjustments in the South African Economy Presented by: Dawie Roodt 22 June 2006

  2. Fiscal Policy

  3. State Finances

  4. State Finances

  5. State Finances

  6. Results • Lower interest payments • More social expenditure • Better ratings • Strong demand

  7. Monetary Policy

  8. Gold $800 ANC, Reds fall Election NOFP + NOFP - Fin Rand Exchange controls Stock exchange crash Rus, Zim, Arg Asian crises Wakefordgate Rand Valuation Rubicon

  9. Exchange rates

  10. Inflation

  11. Inflation

  12. Financial

  13. Interest rates

  14. Interest rates

  15. Results • Interest rate stability • Better business environment • Lower cost of capital • Strong demand

  16. Balance of Payments

  17. Balance of Payments

  18. Results • Access to international capital • World integration • International competitive

  19. Real Economy

  20. GDP

  21. GDP

  22. Results • Job creation • Increased prosperity

  23. Labour

  24. Labour

  25. Results • Higher productivity • Lower burden on state

  26. A comparison

  27. Percentage of World GDP ‘04 Source: UNAIDS

  28. 4% of African area 23% of African GDP 21.2% of African Exports

  29. GDP Source: UN

  30. Countries Compared to Provinces Source: UN

  31. AIDS Source: UNAIDS

  32. Mistakes made in Africa • Private Property Rights • Regulated Prices • Idolise Leaders • Marketing Boards • Nepotism • Incompetence • Corruption • Poor Fiscal Discipline • Poor Monetary Policy • Unrealistic Projects ? ? ? ?

  33. Asset Allocation

  34. Local Equities, 2005

  35. www.efgroup.co.za

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