Covid-19 had an immediate effect on informal businesses, which fell from 1.6-million enterprises in the first quarter of 2020 to 1.2-million in the second
GDP growth may be encouraging but it doesn’t mean much for SA’s millions of unemployed
The economy is still 2.7% smaller than it was in the first quarter of 2020
The South African Reserve Bank governor believes the state has to spur growth, restore the country’s public finances and arrest debt to escape the economic slump
Reserve Bank launches feasibility study into a possible retail central bank digital currency, which is expected to be concluded in 2022.
Reserve Bank stands at the ready to act if the rise in inflation threatens to become permanent
Low interest rates usually encourage spending, but uncertainty created by the pandemic has driven people to save their cash in hard times
The businessman alleges that money from a heritage fund meant for the poor has been stolen. But treasury and the Reserve Bank have called the fund a scam
Steep fuel price hikes are the result of higher levies, which came into effect this week, as well as a turbulent international oil market
Technology used in cryptocurrency will overhaul the banking sector and cater for the unbanked
The South African Reserve Bank cautioned that if it was not for load-shedding, the country’s economy could have been stronger
But higher petrol and electricity prices are expected to drive up price inflation throughout the economy
The sector was badly hit by credit losses, but strong capital buffers have kept it from spiralling
People earning up to R20 000 spend 60% of their salaries paying off arrears, a recent report reveals
The Covid-19 relief grant helped millions of South Africans, but it ended in January. The M&G spoke to unemployed youth who found the money helpful
The pandemic has forced some companies to cancel or pause capital expenditure, jeopardising long-term economic growth
Despite the government’s efforts to lessen the economic shock of the pandemic and the lockdown, businesses are struggling to keep their doors open
The South African Reserve Bank’s MPC has decided to keep the repo rate unchanged, at 3.5%, to let the actions it took last year trickle down into the economy
As more people continue to work from home, a decreased demand for commercial
property is expected to continue as long as South Africa’s growth levels remain low
A response to the article ‘Tax the superrich and raise inflation to cut state debt, inequality and poverty’ in the M&G on 10 November
The central bank estimates that gross domestic product (GDP) to contract by 8.2% in 2020
The gross domestic product numbers are likely to be gloomy, but the economy is not at ground zero
The loan, which is repayable over five years at an interest rate of 1.1%, comes with various self-imposed conditions such cutting the public wage bill and rationalising support to the state-owned entities
The economy is in a depressed state, and Finance Minister Tito Mboweni has called for cautious use of the country’s finances to avert plunging into a sovereign debt crisis
The harmful economic effect of the pandemic has seen small businesses lose out, but others have been able to survive by changing to suit the times
The Monetary Policy Committee has cut the repurchase rate by a further 50 basis points, after a two consecutive cuts of 100 basis points earlier this year
The International Monetary Fund’s emergency funding is cheaper than other options and is low risk. The Reserve Bank creating money to finance government debt is a better option
Government’s response to the coronavirus is unlikely to counteract the expected sharp decline of the country’s gross domestic product
Finance Minister Tito Mboweni has outlined the fiscal and monetary policy interventions implemented by the government in its fight against Covid-19
With little money to respond to Covid-19, the government is looking at other sources of funding
The central bank warns of the harmful effect of Covid-19 on the economy, while the treasury details more plans to ease the pain
Covid-19 has put a strain on the limping economy and something must be done to keep it going