Quarterly Report | Q1 ’24
Introduction
Economic data from South Africa has been weak for the first month of the year. Consumers remain under pressure from high interest rates. South African businesses are also being negatively impacted by the lack of government investment and maintenance of state infrastructure and services. The recent budget did provide some upside surprise in terms of allowing profits on the gold and foreign exchange contingency reserve account to be rightly transferred to National Treasury and thereby reducing the debt burden. Political uncertainty has increased, raising concerns that the political landscape may shift to a more left-leaning populist stance post the election. Despite these uncertainties with regards to the elections, there is still anticipation that policies promoting electricity and logistics reforms will continue.
Previous Reports
Quarterly Report | Q1 ’25
The South African Reserve Bank (SARB) decreased interest rates by 25 basis points at the January Monetary Policy Committee (MPC) meeting.
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