Quarterly Report | Q2 ’23
Introduction
The South African economy remained under pressure from persistent loadshedding during the second quarter of 2023. This will have a negative impact in the future as businesses will not be able to create new employment opportunities. Electricity supply remains the biggest concern in the South African economy. In the coming months, it is expected that the private sector will make significant contributions to the South African electricity grid to beat loadshedding. The South African Reserve Bank (SARB) increased interest rates after the rand (ZAR) depreciated significantly. Inflation decreased to an 11-month low of 6.8% during April. Growth expectations remain low for the South African economy. Fears over sanctions against South Africa have also deteriorated, given the country’s non-aligned stance and importance as a trade partner to the US and Europe.
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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