It is difficult not to be pessimistic about South Africa’s economic prospects at the moment. Yesterday the South African Reserve Bank raised interest rates by 50 basis points. Those of us with home loans will now have to pay more interest. Governor Kganyago lowered the growth forecast from 2 to a dismal 1.7%. With an estimated population growth rate of 1.3%, that means that the average South African won’t see their incomes increase by much this year. Unemployment and poverty are likely to remain frustratingly high.
It is not all so bad
It is not all so bad
It is not all so bad
It is difficult not to be pessimistic about South Africa’s economic prospects at the moment. Yesterday the South African Reserve Bank raised interest rates by 50 basis points. Those of us with home loans will now have to pay more interest. Governor Kganyago lowered the growth forecast from 2 to a dismal 1.7%. With an estimated population growth rate of 1.3%, that means that the average South African won’t see their incomes increase by much this year. Unemployment and poverty are likely to remain frustratingly high.