Inflation & Unemployment
Inflation:
South Africa has an inflation rate of 5.8% ( according to the CIA Factbook ). It is ranked 167 out of the 223 that were listed. This is a pretty high number compared to United kingdom (2%) or the United States (1.5%). Although South Africa's next door county Namibia is very close at a 5.5%. Also with Libya being at the other side of Africa it is at a lower inflation 3.2% and Madagascar being the poorest county compared to the others is the highest (8.8%).
Is INflation a problem?Well inflation is not that big of a problem for South Africa. Even though it is quite high (5.8%) and pretty low on the rank. This would be one of the next things to worry about.
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Unemployment:Unemployment rate in South Africa is very high at a 24.9% in 2013. Which is ranked 173 out of 223. This high number is close to Namibia (27.4%) and Libya (30%). Such countries like United states (7.3%) and United Kingdom (7.4%) are low but it sounds right because they are developed countries. Now I didn't put the unemployment for Madagascar because I have looked it up and every website states differently. It didn't have a percentage on CIA Factbook, but websites range from 3-5%. I don't necessarily believe this because they are such a undeveloped country and it should be high.
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Is unemployment a problem?Yes unemployment is a huge problem for South Africa because:
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