Increase in South Africa’s Tourism Competitiveness – 23rd May 2024
April saw a welcome recovery of two key Purchasing Managers’ Indices, perhaps signalling a measure of stabilisation of economic conditions in South Africa.
The Case For A Lower Repo Rate Strengthens
Trends for three key indicators were published this week that collectively strengthen the case for a lowering of the Reserve Bank’s repo rate, which will automatically impact the prime overdraft rate of the commercial banks.
Inflation Remains Stubborn, But Below 6%
February’s reading for the consumer price index (CPI) was disappointing, with the pace of retreat since mid-2023 having been halted.
Tourism Recovery Remains On Track
During January, sun-lovers from overseas continued to boost South Africa’s tourism industry, especially from countries in the Northern Hemisphere, where temperatures were still cold, and the days were still short.
Budget 2024/25 – Forex reserves to the rescue!
The 2024/25 national budget will mainly be remembered for its novel utilisation of a portion of South Africa’s gold and foreign exchange contingency reserve account (GFECRA), commonly known simply as the forex reserves.
Foreign direct investment in good nick
Over the 12 months ended September 2023, gross foreign direct investment (FDI) inflows on the South African balance of payments achieved a record high average quarterly level (excluding the Naspers share swap transaction of 2021).
