{"id":56542,"date":"2023-11-14T17:54:24","date_gmt":"2023-11-14T17:54:24","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/things-are-looking-up-for-south-africa"},"modified":"2023-11-14T18:21:53","modified_gmt":"2023-11-14T18:21:53","slug":"things-are-looking-up-for-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/things-are-looking-up-for-south-africa","title":{"rendered":"Things are looking up for South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africans have faced a difficult period, but relief could soon be on the way.<\/p>\n

Over the last 18 months, South Africa \u2013 like several nations across the globe \u2013 has fought high inflation, a protracted economic downturn and high-interest rates.<\/p>\n

However, Jeremy Gardiner from Ninety One said that several improvements have occurred across the global economy.<\/p>\n

In South Africa, despite the significant mismanagement of the nation\u2019s state-owned enterprises, the private sector has stepped in \u2013 especially when it comes to energy and the mass imports of solar panels.<\/p>\n

The USA also looks likely to avoid a recession, and with signals from the US Federal Reserve that it is done hiking interest rates, global sentiment has improved.<\/p>\n

\u201cAcross the pond in both Europe and the UK, the growth picture, however, remains challenging. While rates have probably peaked, inflation remains too high, and growth is stuttering, so the \u2018hard landing\u2019 possibility remains real,\u201d Gardiner said.<\/p>\n

There are also other risks to the global outlook, such as Iran joining the conflict in Palestine and Israel, which could push oil above $100 per barrel \u2013 resulting in inflation and interest rates growing.<\/p>\n

Political chaos<\/p>\n

South Africa is also entering election season, with analysts expecting the ANC to get just under or over 50% \u2013 increasing the chances of a coalition government.<\/p>\n

Although a coalition between the DA and the ANC would be seen as a positive by the markets, it is unlikely, given that the ANC won\u2019t come in below 40% of the vote.<\/p>\n

\u201cEven more unlikely, according to analysts, is a potential ANC-EFF tie\u2010up \u2013 fortunately, as the economic carnage a populist government would wreak on SA would be devastating. One need only look at Argentina as a case in point,\u201d Gardiner said.<\/p>\n

Big challenges<\/p>\n

Although heightened periods of load shedding are still possible, the outlook is improving due to further effort, expertise, and money put into fixing the problem \u2013 much of which is coming from the private sector.<\/p>\n

In terms of logistics, mining companies \u2013 a major taxpayer \u2013 would have exported R150 billion more if the nation\u2019s ports and railways were working optimally.<\/p>\n

source:businesstech<\/b><\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africans have faced a difficult period, but relief could soon be on the way. Over the last 18 months, South Africa \u2013 like several nations across the globe \u2013 has fought high inflation, a protracted economic downturn and high-interest rates. However, Jeremy Gardiner from Ninety One said that several improvements have […]<\/p>\n","protected":false},"author":84,"featured_media":56541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[274,315,275],"class_list":["post-56542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nThings are looking up for South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"South Africans have faced a difficult period, but relief could soon be on the way. 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