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South Africa

In: G20 Entrepreneurship Services Report

Author

Listed:
  • Jian Gao

    (Tsinghua University)

  • Ruitao Jia

    (Tsinghua University)

  • Qing Su

    (Tsinghua University)

Abstract

Affected by various factors, South Africa’s GDP growth rate in 2016 was only 0.3% (vs. 1.3% in 2015 and 1.31% in 2017), the lowest since 2009. South Africa’s fiscal revenue has fallen short of expenditure since 2009, and government debt level has continued to rise, with the unemployment rate remaining high (In the fiscal year 2016/17, South AfricaSouth Africa posted its fiscal revenue of 1297.3 billion rand [equivalent to 104.7 billion US dollars], its fiscal expenditure stood at 1445.2 billion rand [equivalent to 116.7 billion US dollars], and the debt balance of the South African government was 2233 billion rand [equivalent to 180.3 billion US dollars]. The unemployment rate in South AfricaSouth Africa was 27.33% in 2017 [vs. 26.5% in 2016].). The sluggish economy causes a great pressure on the South Africa’s entrepreneurship, innovation, and small and medium enterprise (SME) development.

Suggested Citation

  • Jian Gao & Ruitao Jia & Qing Su, 2022. "South Africa," Springer Books, in: G20 Entrepreneurship Services Report, pages 241-251, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-6787-9_18
    DOI: 10.1007/978-981-16-6787-9_18
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