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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
While acknowledging that SA faces a hill, “the highest, perhaps, we have yet to climb”, in terms of job creation and poverty alleviation, Finance Minister Pravin Gordhan’s second Medium-Term Budget Policy Statement (MTBPS) provided a more upbeat outlook for the economy and the fiscal position than was the case in the February Budget.
