The 2010 MTBPS indicates that sustained exchange rate appreciation will lead to unbalanced growth, widening the current account deficit and increasing the economy's vulnerability to shocks. Table 1 (below) summarises the key macroeconomic projections inclusive of 2007 and 2013 calendar years. Table 1: Macroeconomic Projections 2007 - 2013 |Calendar Year |2007 2008 |2010 |2011 | | |2009 |Estimat|2012 | | |Actual |e |2013 | | | | |Forecast | |Percentage change unless otherwise indicated | |Final household |5.5 |2.4 |-3.1 |2.6 |3.4 |4.1 |4.5 | |consumption | | | | | | | | |Final government |4.7 |4.9 |4.7 |4.9 |4.3 |4.2 |3.7 | |consumption | | | | | | | | |Gross fixed |14.2 |11.7 |2.3 |0.8 |5.6 |5.0 |5.9 | |capital formation| | | | | | | | |Gross domestic |6.4 |3.3 |-1.8 |4.1 |4.2 |4.5 |4.9 | |expenditure | | | | | | | | |Exports |5.9 |2.4 |-19.5|4.1 |5.7 |6.6 |7.6 | |Imports |9.0 |1.4 |-17.4|8.4 |7.8 |7.9 |8.7 | |Real GDP growth |5.5 |3.7 |-1.8 |3.0 |3.5 |4.1 |4.4 | |GDP inflation |8.2 |9.2 |7.3 |6.1 |5.3 |5.5 |5.6 | |GDP at current |2,017.|2,283.|2,407|2,631.4|2,867|3,148|3,471| |prices |1 |8 |.7 | |.1 |.0 |.9 | |(R billion) | | | | | | | | |Headline CPI |6.1 |9.9 |7.1 |4.4 |4.7 |5.0 |5.2 | |inflation | | | | | | | | |Current account |-7.2 |-7.1 |-4.0 |-4.2 |-4.9 |-5.3 |-5.8 | |balance (% of | | | | | | | | |GDP) | | | | | | | |