1 Key Policy Insights Oecd Economic Surveys South Africa 2022

1 Key Policy Insights Oecd Economic Surveys South Africa 2022 The unemployment rate stood at 34.5% in the first quarter of 2022, up from 23.3% in the first quarter of 2020 (statistics south africa, 2021). the youth have been particularly hard hit. the unemployment rate of 15–24 years old individuals increased from an already high 52.3% in 2020q2 to 63.9% in 2022q1. The covid 19 crisis has weakened an already fragile economy. south africa’s growth underperformed during the past decade: gdp per capita was already lower in 2019 than in 2008. unemployment remains high, at around 35%, and youth unemployment even exceeds 50%. in the meantime, spending pressures are mounting to close the financing gap in health, infrastructure and higher education.

1 Key Policy Insights Oecd Economic Surveys South Africa 2022 The covid 19 crisis has weakened an already fragile economy. south africa’s growth underperformed during the past decade: gdp per capita was already lower in 2019 than in 2008. unemployment remains high, at around 35%, and youth unemployment even exceeds 50%. in the meantime, spending pressures are mounting to close the financing gap in health, infrastructure and higher education. to finance. The possibility of making permanent this covid 19 relief grant is raised. south africa’s high level of inequality undermines social stability and inclusive growth. the top 10% earners capture. Share of total population vaccinated on 30th of july 2022. note: the baseline scenario extends the short run economic outlook with a growth rate of 1.5% from 2024 and a gradual improvement of the. The 2022 oecd economic survey of south africa highlights three areas to boost potential growth and improve medium term fiscal sustainability. the government should: the government should: improve the efficiency of public spending and of the tax system: government exposure to state owned enterprises remains high and, in terms of state guarantees.

1 Key Policy Insights Oecd Economic Surveys South Africa 2022 Share of total population vaccinated on 30th of july 2022. note: the baseline scenario extends the short run economic outlook with a growth rate of 1.5% from 2024 and a gradual improvement of the. The 2022 oecd economic survey of south africa highlights three areas to boost potential growth and improve medium term fiscal sustainability. the government should: the government should: improve the efficiency of public spending and of the tax system: government exposure to state owned enterprises remains high and, in terms of state guarantees. South africa projection note oecd economic outlook november 2022. south africa gdp is projected to grow by 1.7% in 2022, 1.1% in 2023, and 1.6% in 2024. private consumption and investment will. For any other requests or information, journalists are invited to contact the oecd media office ( 33 1 45 24 97 00). to get advance notification of other oecd reports and events, journalists can complete this short form. working with over 100 countries, the oecd is a global policy forum that promotes policies to preserve individual liberty and.