SOUTH AFRICA: IMPROVED FISCAL POSITION DESPITE TRANSPORT STRIKE AND TERROR ALERT

   Fri, 04 November 2022

South Africa’s fiscal position has undergone a marked improvement in the last six months, as the release of the government’s mid-year budget statement shows a tax revenue windfall driven by higher commodity prices. This has allowed for the government to prioritise debt support to strategic state-owned enterprises, as well as to reduce overall borrowing, stabilising the national debt position. However, while these developments signal an improvement in the country’s short-term economic outlook, critical vulnerabilities are likely to persist, including an electricity generation shortfall, and the sustained threat of labour strikes in key sectors.

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