Longer-term developments in the South African economy Turning to the longer-term developments in the South African economy, it is interesting to note that some remarkable improvements did take place in parts of the economy over the past five years.
An analysis of a few selected key economic indicators of developments over the past ten years (see Table 1 attached to this document) reveals the following: •  The rate of growth in real economic activity as reflected in changes in gross domestic product increased from a yearly average of 0 per cent in the first period (1989 to 1993) to 2 per cent in the second period (1994 to 1998).