Strengthen implementation of policies and projects A lack of effective implementation must cease to be the Achilles heel of SA's economic performance.
Its overall score has increased by 0.5 point due to a higher government integrity score. Fuel prices increased by 7,5% from May to June, with petrol According to the Quarterly employment statistics (QES) survey released by Statistics South Africa (Stats SA) the formal non-agricultural sector shed 3 000 jobs in the first quarter of 2020.
Local government increased spending by 12,2% over the last year, driven largely by increased spending on employee costs. Overall 2020 remains a critical fork in the road towards SA's challenging goal of a bigger, stronger and better economy, which will require strong political leadership and skilful economic steersmanship to successfully manage it.Please visit the official Government information portal for Coronavirus by clicking
Yet there are no miracle recipes.
The first impact survey covered the period 30 March to 13 April 2020, and the results were published on 21 April.1 The survey asked firms in the formal sector how the COVID-19 New employment figures released by Statistics South Africa (Stats SA) showed that South Africa’s formal non-agricultural sector added 16 000 jobs in the fourth quarter of 2019, bringing the total number of persons employed in the formal non-agricultural sector to 10,2 million.
Well-known steps to reduce policy uncertainty and boost investor confidence To reduce policy uncertainty and boost investor confidence a clear and consistent sense of direction ought now to emerge in 2020 around the drivers of economic growth.
That said, there are at least five broad pillars on which better economic prospects might be built in 2020 if there is a pro-active approach: 1. Consumer inflation is now at the bottom of the South African Reserve Bank (SARB) target range of The second wave of Stats SA’s COVID-19 business impact survey provides an update on how South African businesses are currently faring under lockdown.
GDP Growth Rate in South Africa averaged 2.60 percent from 1993 until 2020, reaching an all time high of 7.60 percent in the fourth quarter of 1994 and a record low of -6.10 percent in the first quarter of 2009.
It also saddles future generations with the burden created by present fiscal laxity. Borrowing repetitively to finance consumption expenditure can only make SA poorer in the long run. Growth’s fundamentals are also improving, with a gradual shift from private consumption toward investment and exports. Need for strong political leadership and skilful economic steersmanship There also remains Moody's pending decision on SA's investment rating hanging like the Sword of Damocles over the economy and the more-than-even chance of SA descending into total junk status next year.
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