1887

n Professional Accountant - Rocky recovery expected for South Africa during 2015 : economy

Volume 2015, Issue 23
  • ISSN : 1680-7537

Abstract

South Africa's GDP growth rate is expected to recover somewhat to around 2.5% in 2015, up from the strike-afflicted estimated growth of 1.4% in 2014. Some recovery in household spending is foreseen. However, the expected hike in personal income taxes combined with high services costs will leave consumer spending gains below previous upturns. A move towards fiscal consolidation, by railing in government's escalating public sector wage bill, will also pose a drag on South Africa's near-term growth prospects. A significant fall in the international Brent oil price, assuming geo-political stability in the near term, could be positive for both South Africa's inflation and interest rate outlook in the next 12 months.

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/content/account/2015/23/EJC164730
2015-01-01
2019-11-19

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