,

Good News! SA’s Economy no Longer Ranked Among “Fragile Five”


Pravin Gordhan and Jacob Zuma
Pravin Gordhan and Jacob Zuma image source: nehandaradio.com

According to the International Monetary Fund our current account has improved somewhat. Looks like Pravin Gordhan’s work is paying off.

The IMF has said that South Africa’s finances are in a much better state than before, when we were part of the “fragile five” alongside Brazil, India, Indonesia and Turkey.

While we’re “not nearly as bad as we were,” IMF chief economist Maurice Obstfeld says we remain vulnerable to our large current account deficit, but added that our flexible exchange regime ‘has served us well’.

ALSO READ  Mentorship Programme Launched For Disabled South African Entrepreneurs

Yesterday Gordhan gave his mini-budget speech, where the minister committed Treasury to reducing our current budget deficit of 3.5% to 2.4% in 2017/18.

Whatever the minister’s doing – and despite the NPA and Zuma’s attacks on him – it looks like it’s working.

Loading...

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…