BER Comment (2023)
Real GDP largely reversed Q3 jump in 2022Q4
Date Uploaded: Mar 7 2023 4:45PM
Real GDP performed notably worse than expected in the fourth quarter of 2022, declining by 1.3% q-o-q.
Special survey: Adults’ assessments of the financial situation of their households and their attitude towards using credit
Date Uploaded: Mar 6 2023 3:45PM
To better understand the financial pressures faced by South African consumers and their attitude towards accessing credit, the BER commissioned a special survey at the end of 2022. The survey covered adults’ assessments of the financial situation of their
read moreTo better understand the financial pressures faced by South African consumers and their attitude towards accessing credit, the BER commissioned a special survey at the end of 2022. The survey covered adults’ assessments of the financial situation of their households and their attitude towards using credit to buy something expensive. This comment summarises the results in PowerPoint format and also includes a link to a recording of the presentation.
Large Eskom support, some relief for households and firms
Date Uploaded: Feb 22 2023 7:00PM
As widely expected, the 2023 Budget was dominated by the electricity crisis. Another revenue windfall and savings on expenditure in 2022/23 provided some room for manoeuvre to respond to this. Even so, as a result of Eskom receiving more than R250bn in debt
read moreAs widely expected, the 2023 Budget was dominated by the electricity crisis. Another revenue windfall and savings on expenditure in 2022/23 provided some room for manoeuvre to respond to this. Even so, as a result of Eskom receiving more than R250bn in debt relief over the next three fiscal years, government’s borrowing requirement, overall debt and interest payments are now all projected to be higher than outlined in the October MTBPS.
SARB mandate change should be roundly dismissed
Date Uploaded: Feb 6 2023 11:00AM
In this comment, we outline why it is important to push back firmly against any efforts to undermine the SARB and its contribution to domestic macroeconomic stability.
In a close call, MPC pivots to a 25bps hike
Date Uploaded: Jan 26 2023 6:30PM
With a sharp deterioration in domestic real GDP growth forecasts and mixed prospects for inflation, the SARB MPC scaled down the pace of policy rate hikes to 25bps.