SARB, Quarterly Bulletin, December 2004

The South African Reserve Bank said in its latest Quarterly Bulletin for December 2004 that the South African economy appears to have adjusted to the combination of a stronger world economy, favourable terms of trade, lower interest rates and less restrictive fiscal policies by stepping up real expenditure and production.

The latest South African national accounts estimates reflect improved coverage of economic activity which has lifted the measured level of nominal gross domestic product by some

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