Cecil Kilpin | November 2021 Newsletter

By |2022-01-19T17:03:21+02:00Nov 25th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

Economic Outlook Below is a brief synopsis of the economic outlook as presented at the Medium-Term Budget Policy Statement (MTBPS). The South African economy grew faster than expected in the first half of 2021, but this momentum is expected to wane following public violence in July, port and rail disruptions, and the third wave of COVID-19 infections Real GDP is forecast to grow by 5.1 percent in 2021. Output is expected to return to pre-pandemic levels in 2022, a year earlier than estimated in February. This is largely the result of global demand, higher commodity prices and the easing of COVID-19 lockdown restrictions Household consumption has improved but has not fully recovered from the pandemic. Inflation is contained [...]