The first years of the new regime have certainly not been easy, and have been characterised by unfavourable currency developments that contributed to numerical inflation target misses. South Africa has nevertheless for some time now been experiencing inflation within the target range and surveys indicate clearly that inflation expectations are more firmly anchored at lower levels.
If the growth in demand for Danish goods exceeds productivity growth, the pressure on the labour market will increase, unless the supply of labour is expanded. This labour requirement can hardly be met domestically, and it is difficult to judge how far sufficient resources can be provided from abroad.