A Brighter Look At South Africa's Economy
Although unemployment in South Africa is high, the rate is currently nearer to 30% than 40% ("If Mandela's coalition crumbles, South Africa could follow," International Outlook, Sept. 8). And the workweek in most sectors, including mining, averages 48 hours or less, not "up to 60 hours."
Foreign investment has indeed been slow to come to South Africa, but investors have responded well to four consecutive years of real gross domestic product growth. Foreign investment increased notably in 1996 and the first half of 1997, while indications of further foreign direct investment abound.
BUSINESS WEEK readers interested in a comprehensive overview of recent economic developments in South Africa are welcome to visit the South African Reserve Bank Web site at: http://www.resbank.co.za/economics/.