Finance of South Africa

The minimum monthly wage in South Africa is not regulated by the government. South Africa has a government debt of 43.3% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in South Africa is 5.8%. The currency of South Africa is South African rand. The plural form of the word South African rand is rands. The symbol used for this currency is R, and it is abbreviated as ZAR. The South African rand is divided into cent; there are 100 in one rand. Each year, consumers spend around $221,990 million. The ratio of consumer spending to GDP in South Africa is 0.06%, and the ratio of consumer spending to the world consumer market is 52%. The corporate tax in South Africa is set at 28%. Personal income tax ranges from 0% to 41%, depending on your specific situation and income level. VAT in South Africa is 14%. In 2013, South Africa received 1067.1 million USD in foreign aid.In 2014, the foreign aid amounted to 1403.1 USD.

Gross Domestic Product

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in South Africa is $707,097 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in South Africa was last recorded at $12,319,102. PPP in South Africa is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in South Africa is 366,060 billion. Based on this statistic, South Africa is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in South Africa. The Gross Domestic Product (GDP) per capita in South Africa was last recorded at $6,377,527. The average citizen in South Africa has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in South Africa averaged 1.4% in 2014. According to this percentage, South Africa is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.