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Latest BETI findings show that although SA economy is ‘not out of the woods’, there is reason to be optimistic this year.
President Jacob Zuma delivered his State of the Nation (SONA) 2017 address on the evening of February 9th. While optimistic about economic growth reaching 1.3% this year from 0.5% in 2016, he acknowledged that the South African economy “is still not growing fast enough” to create the jobs needed to reduce poverty, inequality and unemployment.
Elevated policy uncertainty has increased market awareness around the State of the Nation Address (SONA) – an annual report on the state of the country’s affairs, progress on government’s priorities and an outline of government’s agenda for the coming year.
The outlooks on all rated South African banks remain negative at the start of 2017, continuing to reflect the combined pressures of weak economic growth and the persistent credit risk of over-leveraged households.
The strongest deterrent against FSP compliance missteps is or should be: