Fair Weather Predicted

Judging by data and assessments released recently by both the government and the IMF, 2005 was not a great year for the economy with real growth dropping to 3.5% from 5.9% in 2004. There was no notable loss of policy discipline, although the government still struggles to keep the budget deficit and the increase in public debt under control. The fiscal deficit is mainly to do with a narrow domestic tax base, which results in overdependence on revenue sharing from the central pot of the Southern African Customs Union (SACU) and royalties from foreign mining companies. That said, the state

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