South Africa Recovery at Risk
South Africa Recovery at Risk

South Africa Recovery at Risk

South Africa Recovery at Risk

South Africa’s recent economic growth turnaround is unlikely to last as 2017’s boom fades and the outlook for reform remains murky, the central bank said late Tuesday, Reuters reported. The South African economy expanded by a surprising 1% in 2017 as agriculture recovered from a drought the year before, and the treasury expects growth of 1.5% this year. “The pickup in growth is not especially strong, however, and growth remains below long-term averages,” the Reserve Bank said in its latest Monetary Policy Review document. “This is mainly because, at this early stage, there is little clarity around the reform agenda, and without specifics it is difficult to quantify growth responses,” the bank said. The bank said in the absence of “meaningful reforms”, growth was unlikely to exceed 2% sustainably. South Africa is riding a wave of investor optimism since Cyril Ramaphosa replaced Jacob Zuma as leader of the ruling African National Congress party in December and as president in February.


Short URL : https://goo.gl/RtErtG
  1. https://goo.gl/RnmN5y
  • https://goo.gl/MVWLFZ
  • https://goo.gl/2nVhYV
  • https://goo.gl/r4998q
  • https://goo.gl/LVHRMq

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...

Add new comment

Read our comment policy before posting your viewpoints