SOUTH AFRICA
Analyst
Iraj Abedian
Former Member, President’s Panel of Economic AdvisorsDatabanks
Recent Country Insights
South Africa’s current account remains broadly unchanged in Q3-2024
SOUTH AFRICA · Report · 05 Dec 2024
Current account data released by the South African Reserve Bank (SARB) today indicates that, in the third quarter of 2024, the deficit on South Africa’s current account narrowed from R75.3 billion in the second quarter to R70.8 billion. Relative to GDP, however, the current account deficit remain...
SA GDP contracts: Stable electricity supply boosts energy-intensive mining and manufacturing in Q3 2024, while agriculture drags growth lower
SOUTH AFRICA · Report · 03 Dec 2024
In contrast to the general expectations of modest growth, the South African economy contracted by 0.3% q/q during the third quarter of 2024, following an expansion of 0.3% q/q in the second quarter. Despite a marked improvement in electricity supply, South Africa’s economy remains under pressure,...
The South African Reserve Bank maintains momentum as it lowers interest rates by a second consecutive 25 bps
SOUTH AFRICA · Report · 21 Nov 2024
The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) opted to lower the benchmark interest rate by a further 25 basis points, from 8% to 7.75%, during its final meeting of the year. This represents a second cut since the Bank started lowering rates in September of the current y...
Improved electricity supply sparks optimism for South Africa's economic outlook
SOUTH AFRICA · Forecast · 15 Nov 2024
• South Africa’s growth: The South African economy’s real GDP was only 0.4% higher in H1-2024 than it was during the corresponding period in 2023. The country’s logistical issues remain a major hindrance to economic activity, while there was heightened uncertainty due to the May 29th general elec...
South Africa’s Medium-Term Budget Policy Statement indicates the government recorded a primary budget surplus in FY2023/24 for the first time in 15 years
SOUTH AFRICA · Report · 31 Oct 2024
Finance Minister Enoch Godongwana, who has remained in his position during South Africa’s transition from being sorely governed by the African National Party (ANC) to a Government of National Unity (GNU), presented an update on government finances since the presentation of the country’s main Budg...
South Africa’s business environment and corporate dividends in 2024
SOUTH AFRICA · Report · 08 Oct 2024
While the overall performance of the South African economy in 2024 is expected to improve somewhat from the previous year, the lackluster economic activity from 2023 (in the post-Covid-19 era) has had a detrimental impact on business activity. Despite the marked improvement in electricity supply ...
The SA Reserve Bank cuts rates as inflation comes within target and the rand strengthens
SOUTH AFRICA · Report · 20 Sep 2024
Bringing the benchmark interest rate down for the first time since embarking on a relatively aggressive monetary policy normalization that started in November 2021, the SA Reserve Bank’s Monetary Policy Committee (MPC) voted to cut interest rates by 25 basis points during their September 2024 mee...
Further improvement in South Africa’s terms of trade leads to the narrowing of the current account deficit
SOUTH AFRICA · Report · 05 Sep 2024
A welcome economic metric for South Africa came out today as data released by the South African Reserve Bank (SARB) indicates that the deficit on the country’s current account of the balance of payments narrowed markedly in the second quarter of 2024. The deficit on the current account declined f...
South Africa’s economy registers moderate growth in Q2-2024, while electricity supply is more solid with over 5 months of no load-shedding
SOUTH AFRICA · Report · 03 Sep 2024
South Africa’s quarter-on-quarter real GDP expanded by 0.4% during the second quarter of 2024. This was following the first quarter’s no change in GDP (i.e. GDP growth rate of 0.0%, which was upwardly adjusted from -0.1%). On account of the weak quarterly growth rates, real GDP in the first half ...