Thursday, November 06, 2014

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[IWS] World Banki: SOUTH AFRICA ECONOMIC UPDATE: FISCAL POLICY AND REDISTRIBUTION IN AN UNEQUAL SOCIETY [4 November 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

World Bank

 

SOUTH AFRICA ECONOMIC UPDATE: FISCAL POLICY AND REDISTRIBUTION IN AN UNEQUAL SOCIETY [4 November 2014]

http://documents.worldbank.org/curated/en/2014/11/20339043/south-africa-economic-update-fiscal-policy-redistribution-unequal-society

or

http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/10/30/000470435_20141030130616/Rendered/PDF/921670WP0P131400SAEU60for0web01029b.pdf

[full-text, 59 pages]

 

ABSTRACT

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.

 

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