ECONOMY The threat of downgrading the SA economy to junk status by mid-2017 remains high according to Moodys and Fitch. Unemployment in the third quarter stands at 27.1% – the highest in 13 years. South African core inflation, which excludes food, fuel and beverages, was 5.7% in October 2016 and accelerated to 6.6% in November. […]
DEVELOPMENTS IN SOUTH AFRICA OCTOBER 2016 ECONOMY Mozambique’s economic growth is likely to slow to 4,5% this year from 6.6% last year due to rapidly rising inflation and growing government debt. The IMF have recently discovered more than $1bn of previously undisclosed debt which will increase pressure on the economy. The stock of debt as […]
DEVELOPMENTS IN SOUTH AFRICA FEBRUARY 2016 ECONOMY The Rand has fallen 18% against the dollar during the year. Inflation is running at 6% to 7% and is expected remain at this level over the next five years. GDP growth is predicted to be 1.5% in 2015 and forecast at 1.5% for 2016. It is predicted […]
DEVELOPMENTS IN SOUTH AFRICA SEPTEMBER 2015 ECONOMY Efforts to shrink South Africa’s current account deficit are falling short due to a weak currency, power shortages and a slump in commodity prices. The Treasury forecast an average 4.5% deficit for this fiscal year – the current account gap has not been below 4% since the fourth […]
DEVELOPMENTS IN SOUTH AFRICA MARCH 2015 ECONOMY At a recent seminar it was pointed out that South Africa is lagging far behind other African countries with regard to economic growth. The South African projected growth is 1.4%. Nigeria’s projected growth is 6.97%, Ethiopia 8.2%, Ghana 4.47% and Kenya 5.34%. Other countries such as the DRC, […]
DEVELOPMENTS IN SOUTH AFRICA DECEMBER 2014 ECONOMICS The South African trade deficit worsened to R16.3bn in August as exports fell sharply. The budget deficit in the first five months of the fiscal year was R111.847bn compared to a shortfall of R93.297bn for the same period last year. The cumulative trade deficit for the first eight […]
DEVELOPMENTS IN SOUTH AFRICA SEPTEMBER 2014 ECONOMICS The South African government will lower the economic growth forecast to 1.8%. The growth estimate in February was 2.7%. The South African trade deficit narrowed to R190M in June – however the deficit widened to R6.88bn in July. The trade deficit grew to 6.2% of GDP in the […]
DEVELOPMENTS IN SOUTH AFRICA JUNE 2014 ECONOMICS The South African economy had the worst quarter since 2009. GDP has contracted in the three months to March 2014, with rising inflation. The trade deficit for April was R13.03bn up from the deficit in March of R11.9bn. The economy contracted 0.6% in the first quarter of the […]
DEVELOPMENTS IN SOUTH AFRICA MARCH 2014 ECONOMICS Strikes in the third quarter of last year contributed to a 6.6% contraction in the manufacturing sector which affected the GDP for the quarter. GDP grew by only 0.7% in the third quarter – this being the worst growth rate since the recession in 2008 / 2009. South […]
ECONOMICS The South African trade gap rose to R19bn in August. The deficit for the year is R107.31bn compared to R69.91bn for the same period last year. It is expected that the trade balance will remain negative for the rest of the year, .the gap is currently at 6,5% of GDP. WTO predicts a growth […]
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