IMF South Africa 2017 Article IV consultation

The Government of South Africa notes the outcome of the International Monetary Fund's South Africa 2017 Article IV consultation report released on the 6 July following consultation with South Africa from 3- 16 May 2017. "The report notes that sound macroeconomic policies and robust economic growth were mutually reinforcing post-1994, however, the rates of economic growth and poverty reduction have stalled in the recent years."

"The IMF highlights that persistent inequality, largely due to the legacies of apartheid, coupled with prolonged low growth are contributing to the increased questioning of whether the prevailing economic policy paradigm can deliver results for all citizens. Thus, proposing that urgent reforms are needed to reignite growth, and render it more inclusive, particularly in the labour, product market and service sector. The IMF report states that the scope of monetary and fiscal policies to provide stimulus to the economy is limited and the priority to stimulate economic growth rests with structural reforms."