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South Africa's monthly manufacturing output contracted in April and mining production slowed, as electricity outages hit the strong recovery in economic activity seen earlier in the year. ....
Key growth opportunities in a struggling South African economy It is over a year since Covid-19 made its formal entrance into the global economy, and with second and third waves taking root across the world, business owners are rightfully asking where growth will come from in 2021. Herman de Kock, executive head of sales, Nedbank Business BankingCoupled with fears over more gloomy news from Covid-19, months after the Budget in which universities had their financing slashed for 2021 by R24.6bn, South Africa finds itself engulfed by student protests. Finance minister ,Tito Mboweni said that there was an incorrect notion that government is “swimming in cash” when public finances are dangerously overstretched. ....
Nedbank chief economist Nicky Weimar talks to Business Day TV about the GDP data By Business Day TV - 10 March 2021 Image: 123RF/ SOLAR SEVEN South Africa has recorded its biggest annual growth slump in more than seven decades. The economy contracted by 7% in 2020, marginally better than the National Treasury’s forecasts. Business Day TV’s Alishia Seckam spoke to Nedbank chief economist Nicky Weimar for her view on the data and what it means for the country’s growth trajectory. Nedbank chief economist Nicky Weimar talks to Business Day TV about the GDP data. ....
MONEYWEB app instead? Major concerns about plans to cut wage bill and reduce deficit. 12:00 Image: Waldo Swiegers/Bloomberg The success of this yearâs budget will depend on whether government can make true on its expenditure cuts announced on Wednesday. South Africa is currently spending R2.1 billion a day on servicing its debt and our public service wage bill as percentage of gross domestic product (GDP) is the third highest in the world, slightly behind wealthy countries such as Denmark and Norway. Nicky Weimar, chief economist at Nedbank, says SA still has a âhorrificâ budget deficit (14%) despite the better-than-expected tax collections from October onwards. ....