South Africa economic update: innovation for productivity and inclusiveness

This 10th South Africa Economic Update offers a review of the country’s recent economic and social developments and outlook in the context of global economic prospects. It focuses on the role of innovation in fostering economic growth, job creation and poverty reduction in an environment in which more South Africans are getting poorer. Main conclusions emerging from this analysis suggest that policies to spur innovation can go a long way in addressing unemployment, poverty and inequality in South Africa. It is our hope that South Africa will continue, and possibly expand, using the World Bank vast body of knowledge, global experience and its convening power as a platform for exchange and peer-to-peer learning in the identification of pragmatic solutions to reach the country’s National Development Plan’s goals.