Coming off the back of weak economic performance in the 1980s, the economy stabilised through the transition years, setting up the era to 2007 during which growth rates ramped upwards to average 5% between 2004 and 2007. [...] The structure of GDP continues to evolve in the direction of a tertiary-orientated and post-industrial economy — a trend driven by global forces as much as by hostile and counterpro- ductive labour, mining and agricultural policies in South Af- rica. [...] Gross domestic product (GDP) is the total value of all ‘fi nal’ goods and services that were produced within the borders of the country during a year. [...] The basic price is the amount receivable by the producer from the purchaser for a unit of a product minus any tax on the product plus any subsidy on the product. [...] In terms of the repo (repurchase) rate system, the Reserve Bank dictates the amount of liquidity it is willing to supply to banks, and lets the market settle on the interest rate.
- Pages
- 6
- Published in
- Johannesburg, South Africa
