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CYRIL RAMAPHOSA: We need national effort to rebuild SA economy
In a statement issued on Tuesday, President Ramaphosa stated: “Now is the time to act quickly and boldly to place South Africa on a rapid growth trajectory.”
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SA's economy contracted by 16.4% in Q2
The data revealed that in the period, the economy generated R1,08 trillion.
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Virus means at least a 5-year hit to South Africa GDP: UN
The UNDP said GDP would decline by 7.9% this year due to the pandemic and "recover slowly through 2024", in a socio-economic impact assessment study released on Monday.
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COVID-19 pushing much of the world into record economic slumps
Here are the second quarter changes in gross domestic product (GDP) compared to the previous quarter for the world's top economies.
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SA heads towards 'tougher times' as GDP contracts by 2%
This was the third consecutive decline with the economy remaining in recession.
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Maluleke: Global effects of COVID-19 were already being felt in Q1
The second-quarter results are expected to paint an even bleaker picture of the impact of the national lockdown, which forced businesses to shut down, halting economic activity for over two months.
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GDP pre-coronavirus lockdown fell by 2%
This data does not include post lockdown data on the economy’s performance.
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Lockdown affects Stats SA’s collection of economic data
Statistics South Africa is struggling to collect the data required to pull together crucial reports.
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Economists predict further repo rate cuts
The Reserve Bank announced on Thursday that it had cut the repo rate by 50 basis points to 3.75% in order to promote growth.
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Grim outlook on SA's economic growth for 2020
There are concerns that 2020 may be another difficult year for growth, with consensus that the country is facing a number of factors dragging down GDP.
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SA Q3 current account deficit narrows to 3.7% of GDP
The latest deficit was wider than the 3.1% forecast by economists surveyed by Reuters.
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Foreigners dump nearly $10 bln of South African assets in 2019
Weak company profits, a dire economic outlook and rising chances the country will lose its last investment-grade credit rating have sent jitters through markets.
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SA's GDP decreases by 0.6% in the 3rd quarter
Some of the contributors were agriculture, which contracted by 3.6%, mining by over 6% and manufacturing, which decreased by almost 4%.
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China third-quarter GDP grows 6%, slowest pace in almost three decades
The third-quarter performance was also at the bottom end of the government’s full-year economic growth target of 6.0%-6.5%.
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World Bank sees Egypt economy growing 5.8% in 2019/20
The World Bank inched up its growth estimate for Egypt’s gross domestic product (GDP) in the last fiscal year to 5.6% from 5.5%, matching the government’s figure. Egypt’s fiscal year starts on 1 July.
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IIF flags SA's debt sustainability in report
The report, released late on Wednesday, echoes a warning on Tuesday by the central bank about government debt, which has doubled from less than 30% of GDP before the 2008 global financial crisis to nearly 60%.
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SA debt-to-GDP could reach 95% by 2024, IIF says
The report echoes a warning on Tuesday by the central bank about ballooning government debt, which has doubled from less than 30% of GDP before the 2008 global financial crisis to nearly 60%.
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Mantashe welcomes 3.1% economic growth, economists not celebrating
The strongest performer in the second quarter was the mining sector which grew 14.4% driven by iron ore, manganese and coal growth.
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IMF trims SA's economic growth forecast to 1.2%
South Africa has seen growth stagnate in the decade since the world’s financial crisis, with policy missteps under former President Jacob Zuma making worse global conditions.
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How GDP distorts our view on what is important
GDP is not a good measure of well-being, according to a report by the International Commission on the Measurement of Economic Performance and Social Progress.
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Kenya Treasury sees 2019/20 budget deficit at 4.7% of GDP
He said the government was likely to spend $27.40 billion in the next fiscal year, up from a revised approximate $1.81 trillion this financial year.
