n IMIESA - SAFCEC - summing up the industry : industry insight

Volume 41, Issue 7
  • ISSN : 0257-1978



The global economic turmoil, affecting particularly emerging and developing economies, continues to depress South Africa's economy. Domestic economic woes have intensified. This, along with the coming municipal elections, has elevated political instability and triggered violent and disruptive protest action. This could lead to delays in project implementation. While credit ratings agencies have stopped short of a further downgrade, the looming recession, propelled by the mining sector, will have a more profound impact on an already ailing construction sector. Currency volatility and depreciation of the rand mean that any gains from the lower oil price are eroded.

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