T T Mboweni: The South African economy: an overview Address by Mr T T Mboweni, Governor of the South African Reserve Bank, at the School of Economics Awards Evening, University of Pretoria, Pretoria, 8 July 2004.
*  *  *  World economic growth has gained momentum since the middle of last year and amounted to 3,9 per cent for 2003 as a whole. Early indications are that activity remained brisk in the first half of 2004, with China and India recording sparkling performances. The global economic recovery has created favourable conditions for higher commodity prices.