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The objectives of the macroeconomics policy critical and assessment in the South African economy

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  1. Introduction.
  2. The objectives of macroeconomic policy.
    1. The SA fiscal policy objectives.
    2. The SA monetary policy objectives.
  3. To what extent does the government pursue the same objectives as the Reserve Bank?
    1. To what extent do the objectives differ?
  4. Critical assessment and overview of these macroeconomic objectives.
  5. Conclusion.
  6. Bibliography.

Although South Africa is regarded as an ?economic powerhouse? in Africa and has a strong modern industrial and financial base, it faces severe developmental challenges: poverty, high level of inequality, unemployment?? (Fourie and Burger 2003: 4). The Human Development Index for South Africa is 0.653 which gives the country a rank of 121st out of 127 nations (United Nations 2007). In this way, the South African economy faces two main issues: to ensure sustainable development, which is defined as ?? development that meets the needs of the present without compromising the ability of future generations to meet their own needs? (Brundtland Commission 1987:43 cited in Fourie and Burger 2003:2) and to globalize successfully (Fourie and Burger 2003: 10).

[...] After studying the objectives of the South African fiscal and monetary policy, we are going to make a critical assessment of these developed targets. We will explain the views of the government, the Reserve Bank, as well as those of other role players in the economy, such as COSATU. Critical assessment and overview of these macroeconomic objectives As we analyzed in the previous part and according to Fourie and Burger (2003: the government and business support a causality from sustainable fiscal policy to economic growth and then to development. [...]

[...] However, according to Burger (2007), growth rate may be possible? to reach, but be sufficient to absorb the unemployed to such an extent that the unemployment rate and poverty is halved in the next seven years.? After analyzing the challenges and the objectives of the SA government, we can study those of the Reserve Bank The SA monetary policy objectives In contrast to the government, the Reserve Bank has an official mission statement in which its objectives are formulated explicitly and clearly. [...]

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