Economy

South Africa ratings lowered on weakening economic and fiscal trajectory; outlook stable

MPC: Absa commentary on possible outcomes

We need to change our outlook warns Gordhan

In terms of South African politics, 2017 has been an interesting year. We have seen two major cabinet reshuffles and we are seeing a lot of pressure being put on President Jacob Zuma who many feel is letting the country down in a number of areas.

Medium Term Budget Policy Statement - “We have the power to change our course”

"We have the power to change our course", said the Minister of Finance, Malusi Gigaba in his Medium Term Budget Policy Statement earlier this week. He identified improving South Africa's economic growth outlook as the biggest challenge, as growth projections for the country were revised downwards from 1.3% to 0.7% for 2017, despite an improving global economy. The projections were also far from the ambitious target of 5.4% per year as set out in the National Development Plan (NDP). Similarly, in the NDP, the government aspired to bringing the unemployment rate down to 6% by 2030, yet unemployment has now reached 27,7% which is its highest level since September 2003.