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South-Africa-2015-strong-inclusive-and-sustainable-growth-17-July

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South Africa 2015 strong inclusive and sustainable growth 17 July

Published in: Economy & Finance
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South-Africa-2015-strong-inclusive-and-sustainable-growth-17-July

  1. 1. http://www.oecd.org/eco/surveys/economic-survey-south-africa.htm OECD OECD Economics 2015 OECD ECONOMIC SURVEY OF SOUTH AFRICA For a strong and inclusive country Pretoria, 17 July 2015
  2. 2. 2 Social progress has been impressive 1. Access to piped water is mostly through a tap in a house but includes other infrastructure such as communal taps. Source: Statistics South Africa; World Bank WDI Database Services have been broadened and poverty has been alleviated through social grants
  3. 3. 3 Growth is falling behind GDP per capita over the past two decades Source: World Bank WDI Database
  4. 4. 4 Infrastructure bottlenecks must be tackled, especially in electricity Electricity generation Source: Statistics South Africa
  5. 5. 5 Wage negotiations are too confrontational Working days lost to strike action1 1. Working days lost are a function of the number of workers on strike and the duration of the strike. Source: Andrew Levy, Wage Settlement Survey, quarterly reports
  6. 6. 6 Growth has not been inclusive enough Mid 2000s Latest available Source: World Bank WDI Database; Statistics South Africa
  7. 7. 7 Less than half of the working-age population has a job, driving inequality Working-age population (15-64 year olds) 2015Q1 Source: Statistics South Africa (But 26% of the labour force)
  8. 8. 8 SMEs face too many obstacles Barriers to entrepreneurship Restrictiveness Source: OECD (2014), Product Market Regulation Database
  9. 9. 9 There is scope to raise revenue for social spending and infrastructure General government current revenue 2013, % of GDP Note: “OECD EMEs” are five emerging market member countries: Chile, Hungary, Mexico, Poland and Turkey. Source: OECD Databases; IMF WEO Database
  10. 10. Key Recommendations • Use independent producers to increase electricity capacity, and ensure prices reflect costs. • Increase the role of mediation and arbitration to make wage negotiations less confrontational. • Establish a public employment service as a one-stop shop for job seekers. • Expand affordable public transport. • Build housing closer to economic centres. • Support SMEs by reducing the regulatory burden and eliminating entry barriers and regulation that limits competition. • Broaden key tax bases. Increase taxation of high income earners to make the tax system more progressive. 10
  11. 11. ADDITIONAL MATERIAL
  12. 12. 12 Economic growth has been strongest in the richest regions Real GDP Index, national value in 2003 = 0 Real GDP per capita Index, national value in 2003 = 0 Source: OECD calculations based on Statistics South Africa data.
  13. 13. 13 Environmental challenges are large Energy intensity1 South Africa South Africa Water stress2 1. Total primary energy supply per unit of PPP-adjusted GDP in 2012 2. Gross use of freshwater as % of available freshwater resources in 2011 or latest available Source: IEA Databases, OECD Environmental Database Iceland Russia Korea Belgium Italy
  14. 14. 14 Some types of infrastructure spending have risen % of GDP 1. Roads, bridges, dams, electricity, water supply, etc. 2. Schools, hospitals, etc. and administrative services. Source: SARB Database % of GDP
  15. 15. 15 Public transportation still needs to be improved Source: FFC (2013) “Effective Devolution of Transport Functions to Municipalities: Towards an Optimal Transport System” in Submission for the 2014/15 Division of Revenue, Financial and Fiscal Commission Composition of commuter transport used 2013
  16. 16. 16 High cost port services are eroding competitiveness USD per container (20 foot eq. unit) Source: ITF (2014), “The Competitiveness of Ports in Emerging Markets – the Case of Durban, South Africa”, International Transport Forum, Paris. USD per container (20 foot eq. unit) Total price of port services
  17. 17. 17 The regulatory burden is high Restrictiveness Economy-wide indicator of product market regulation Source: OECD (2014), Product Market Regulation Database
  18. 18. 18 Regulation is especially high in network sectors Restrictiveness Regulation in network sectors (energy, transport and communications) Source: OECD (2014), Product Market Regulation Database
  19. 19. 19 Taxes are administered efficiently but coverage is still narrow Individuals who paid income tax Administrative costs for tax administration 2011 Registered taxpayers Millions Note: “OECD EMEs” are five emerging market member countries: Chile, Hungary, Mexico, Poland and Turkey. Source: OECD (2013),Tax Administration 2013; National Treasury and SARS (2014, 2013), Tax Statistics.
  20. 20. More Information… www.oecd.org/eco/surveys/economic-survey-south-africa.htm OECD OECD Economics Disclaimers: The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. 20

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