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GDP growth in 2017 better than expected

07 March 2018

Q4 2017 GDP came in much better than expected. The consensus forecast was for an expansion of 1.8% at an annualised rate, but the number came in far better at 3.1% annualised. Also, the previous three quarters’ numbers were revised slightly higher too. The fourth quarter number also significantly boosted GDP growth for the full 2017 calender year to 1.3%, vs. consensus estimates of below 1%. Interestingly, the technical recession, i.e., two consecutive quarters of negative GDP growth, which occurred over the fourth quarter of 2016 and first quarter of 2017, was also revised away with the Q4 2016 number now a small positive.

Utility Eskom downgraded to 'CCC+' on ongoing liquidity concerns and insufficient government support; Outlook Negative

28 February 2018

• or default in the next six months despite securing South African rand (ZAR) 30 billion in short-term funding from local and international funders so far this year. • We now believe there is a lower likelihood that Eskom would receive extraordinary support from the government, reflecting our view that government support for the utility over the past few months has been insufficient given that the utility's liquidity concerns persist. • We are therefore downgrading Eskom to 'CCC+' and 'zaB' from 'B-' and 'zaBB-'. • The negative outlook points to uncertainty regarding the extent and timeliness of government support for Eskom over the coming six months, considering the magnitude of the utility's funding deficit and refinancing risks.

Change is as good as a holiday – but what do the current economic changes mean for South Africans?

26 February 2018

Iemas Financial Services reflects on some of the main economic changes in the South African economy and what this will mean for the future.

South Africa ratings and outlook not immediately affected by political transition

15 February 2018

On Feb.14, 2018, South Africa's president, Jacob Zuma, resigned, and today Deputy President Cyril Ramaphosa was formally sworn in as president. This follows the African National Congress' (ANC's) elective conference in December 2017, in which Mr. Ramaphosa was chosen as the new ANC party leader.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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