This has both adverse welfare and competitiveness effects and is something that warrants attention at the provincial level particularly in terms of addressing the bottlenecks that are adversely affecting the price formation process in the province. With an estimated share of national GDP of just over 7 per cent, Limpopo makes an important contribution to the economy of South Africa.
The financial market dislocation that arose in the summer from the reassessment of credit risk has yet to fully run its course. But it seems that, so far, Canada has come through the recent turbulence reasonably well. There has been some tightening of credit conditions, but it appears that Canadian companies and Canadian banks are in a strong position to withstand the turmoil.