During the 1960s the South African economy expanded at an annual average rate of 5,5 percent and experienced average inflation of 2,4 percent. This compared with annual growth of 5,0 percent in industrialised Organisation for Economic Corporation and Development (OECD) countries and inflation of 2,9 percent. Dollar per capita income grew 73 percent during the decade. The 1970s were turbulent years internationally and the domestic economy grew by only 3,2 per cent per annum (versus 3,4 percent in OECD countries). Relative economic performance was beginning to deteriorate. but a strong gold price shielded policy makers from this reality. In the second half of the 1980s growth had slumped to 1,5 percent per annum, inflation had started to soar (to 15,7 percent on average) and the exchange rate to deteriorate. At the same time annual OECD growth had risen to 3,5 percent and inflation had moderated to 3,7 percent from 8,3 percent in the 1970s. During this period the Rand depreciated by a huge 34,9 percent against a trade-weighted basket of currencies.
South Africa's economic performance in the 1980s and the early 1990s was severely hampered by a poor political environment and t
Through its civil society policy programme the approach to non-governmental organisations (NGOs) and community-based organisations and also key conceptual issues continue to receive attention.
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