South Africa

City of Cape Town

South Africa's peaceful political transition was one of the most remarkable political feats of the past century. The African National Congress (ANC) has been driving the policy agenda since 1994. A sustained record of macroeconomic prudence and a supportive global environment enabled South Africa's GDP to grow at a steady pace for the decade up to the global financial shock of 2008-09. Improvements in the public budget management system and efforts to restore the macro fundamentals by National Treasury played an essential role.

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