OECD Economic Surveys South Africa 2022.
The COVID-19 crisis has weakened an already fragile economy. South Africa's growth underperformed during the past decade: GDP per capita was already lower in 2019 than in 2008. Unemployment remains high, at around 35%, and youth unemployment even exceeds 50%. In the meantime, spending pressures...
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| Autor Corporativo: | |
| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Paris :
Organization for Economic Cooperation & Development
2022.
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| Edición: | 1st ed |
| Colección: | OECD Economic Surveys: South Africa
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| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009704692706719 |
Tabla de Contenidos:
- Intro
- Foreword
- Table of contents
- Basic statistics of South Africa, 2021
- Executive Summary
- A strong recovery but risks remain
- Maintaining the credibility of monetary policy and improving public spending
- Making growth more inclusive
- Boosting productivity to improve living standards
- Making growth greener
- 1 Key Policy Insights
- The recovery is under way, but risks are on the downside
- The health system was put under pressure by the pandemic crisis
- The economic recovery is led by private consumption and external demand
- Risks to the outlook remain high
- A balanced macroeconomic policy mix is necessary to promote growth
- Slightly accommodative monetary and prudential policies remain relevant
- The banking sector has weathered the crisis
- Stabilising public debt requires higher growth and increasing government revenues
- Managing spending pressures will not be sufficient
- Reforming state-owned enterprises is necessary to reduce their fiscal impact
- Fighting corruption is key
- Increasing tax revenues while reducing inequalities and boosting growth
- Strengthening post-COVID 19 social policy
- Reforms for strong, fast, and inclusive growth
- Lifting the electricity shortage's drag on growth
- Mitigating climate change: transitioning to net zero
- Infrastructure investment is needed to lift productivity
- Developing public transport infrastructure is needed
- Labour market reform can help raise employment
- The pandemic worsened already dire labour market outcomes
- Gender differences in the labour market remain high
- Informality and employment growth
- Compliance with the new national minimum wage is low
- Tackling skills mismatch and easing school to job transitions
- Reducing labour market rigidities
- Boosting the take up of the employment tax incentive.
- Easing access to jobs: information, distance, placement
- Strengthening activation policies
- Main findings and recommendations
- References
- 2 Strengthening the tax system to reduce inequalities and increase revenues
- The challenges of a tax reform
- Tax revenues remain stable but are slightly tilted toward direct taxes
- Designing tax policy reform
- Broadening the personal income tax base would improve its progressivity
- The base of the personal income tax system is narrow
- Increasing the progressivity of the personal income tax schedule to reduce income inequalities
- Income tax, transfers, and participation to the labour market
- Broadening the corporate income tax base to reduce the tax rate
- Corporate income tax revenues and rate are relatively high
- Reducing tax deductions would allow reducing the headline tax rate
- Tax incentives and investment
- The new international two pillar tax and corporate taxation in South Africa
- Reforming the taxation of SMEs
- Revenues from natural resource extraction could be increased
- Taxes on goods and services are large and effective
- The VAT system performs relatively well
- Other indirect taxes contribute significantly to government revenues
- Excise taxes raise significant revenues
- Trade taxes remain significant
- Strengthening the tax system to cope with new challenges
- Environmental tax policy
- Improving digital economy taxation to avoid revenue leakage
- Strengthening international tax co-operation to fight tax evasion
- Improving the taxation of wealth to reduce inequalities
- Wealth inequalities are high
- Improving tax collection on wealth
- Reforming wealth taxes to reduce inequalities
- Improving the efficiency of the tax administration
- References
- 3 Boosting productivity to improve living standards.
- Low productivity growth undermines improvements in living standards
- Raising the efficiency of public investment in transport infrastructure
- Road infrastructure investment and governance must become more efficient
- Alternatives to road should further be developed
- Anti-corruption provisions reduce inefficiencies surrounding infrastructure projects
- Lowering regulatory barriers to private investment
- Bridging the telecommunication gap
- Stepping up R&
- D support
- Improving access to finance for start-ups and SMEs
- Removing obstacles for firm dynamism
- Boosting market competition
- Leveraging the regional participation in global value chains
- Supplying high quality human capital to the labour market
- Increasing the quality of basic education and reducing inequalities
- Expanding access to higher education
- The Community Education and Training system remains underdeveloped
- Addressing skills imbalances
- The healthcare system should be reformed
- References.
