South Africa's economic growth outlook: What to expect in the coming months
Although the economy doesn't look very bright at the moment, with forecasts having recently been trimmed on the back of US President Donald Trump's pending 30% in tariffs, all may not be doom and gloom.
The South African Reserve Bank's (SARB's) Composite Business Cycle Indicators may show that the next six to 12 months don't look that positive, the current position and that of the most recent economic situation, gained.
Commenting on the latest indicator, Investec chief economist Annabel Bishop said that she anticipates a better gross domestic product (GDP) growth rate in the second quarter than the first three months of the year.
However, Bishop does not expect to see especially strong growth in the second quarter.
In the first quarter, GDP came in at a mere 0.1%, with the fact that it gained at all being due to agriculture. This figure surpassed economists' expectations. The economy grew 0.6% last year.
Investec Wealth & Investment's data shows that growth has averaged 4.5% since 2010, and the unemployment rate would be significantly lower.
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The Citizen
15 hours ago
- The Citizen
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The Citizen
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Reserve Bank and Ibex reach final settlement of R6.3 billion on Steinhoff fraud
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Ibex granted permission to wind down and repay creditors In return, the Ibex Group withdrew its legal challenge to the forfeiture. In addition, the Sarb granted the Ibex Group permission to implement and take all steps necessary for the Ibex Group to implement its Dutch court-approved structured winding down process and repay its creditors and operational expenses. By agreement between the Sarb and Ibex Group, the High Court set aside the prohibition orders restricting the Ibex Group's ability to deal with some of its shares in Pepkor Holdings Limited and the Sarb agreed not to take any further administrative or enforcement action against the Ibex Group regarding the alleged contraventions. In addition, the Ibex Group and the Sarb, with the support of the majority of the Ibex Group's current creditors, withdrew all the litigation they instituted, while the Ibex Group and the financial creditors abandoned the judgments obtained in the course of the litigation. 'The Sarb as well as the Ibex Group consider the settlement reasonable, proportionate and justifiable considering the complex and competing interests. 'Considering the long history of the Steinhoff/Ibex matter, the wider ramification of the continued dispute between the Sarb and the Ibex Group for investor appetite for future investments in South Africa and the interests in finality, the Sarb and the Ibex Group consider this final settlement to be in the best interests of South Africa,' the Sarb says.
