SOUTH AFRICA
Analyst
Iraj Abedian
Former Member, President’s Panel of Economic AdvisorsDatabanks
Recent Country Insights
South Africa’s current account deficit widens in Q2-2025
SOUTH AFRICA · Report · 11 Sep 2025
Data released by the South African Reserve Bank (SARB) indicates that the deficit on the country’s current account of the balance of payments widened in the second quarter of 2025. The deficit on the current account increased from R47.8 billion in the first quarter to R82.8 billion in the second ...
Economic growth improves in Q2-2025
SOUTH AFRICA · Report · 09 Sep 2025
South Africa’s quarter-on-quarter real GDP expanded by 0.8% during the second quarter of 2025 following the first quarter’s 0.1% q/q increase. On account of the generally weak quarterly growth rates, real GDP in the first half of the year was only 0.7% higher than that of the corresponding period...
South Africa’s ongoing structural reforms provide some tailwinds to growth amid global uncertainty
SOUTH AFRICA · Forecast · 02 Sep 2025
• South Africa’s growth: The domestic economy began the year on a subdued trajectory, with underlying structural constraints persisting alongside intensifying global headwinds, including rising protectionist measures. Progress in implementing government’s structural reform agenda, particularly ...
The SA Reserve Bank cuts rates as inflation expectations continue to moderate
SOUTH AFRICA · Report · 01 Aug 2025
The South African Reserve Bank (SARB) once again announced, on July 31, 2025, that it is cutting the benchmark interest rate, its second consecutive reduction since May, and by another 25 basis points. The decision followed the conclusion of the Monetary Policy Committee’s (MPC) fourth meeting of...
Strained but standing: South Africa’s fiscal challenges and reform opportunities
SOUTH AFRICA · Report · 07 Jul 2025
The OECD, in June, released its Economic Survey of South Africa, and it provides a sobering view of the country’s fiscal landscape. With gross government debt expected to remain above 75% of GDP in the near term (higher than the typical G20 emerging market economy), and significant revenue short...
South Africa’s external position remains relatively sustainable
SOUTH AFRICA · Report · 17 Jun 2025
Data released by the South African Reserve Bank shows that, during the first quarter of 2025, the deficit of South Africa’s current account narrowed slightly, to R35.6 billion, down from R39.3 billion in the fourth quarter of 2024. As a percentage of GDP, the deficit held steady at 0.5% over both...
Agricultural gains prevent total economic stagnation in Q1-2025
SOUTH AFRICA · Report · 04 Jun 2025
Real quarterly GDP increased marginally by 0.1% in the first quarter of 2025. This followed an expansion of 0.4% q/q during the fourth quarter of 2024 and a contraction of 0.3% q/q in the third quarter of 2024. The latest GDP print showcases that the South African economy indeed started the year ...
South Africa confronts fiscal strain and global uncertainty in early 2025
SOUTH AFRICA · Forecast · 22 May 2025
• South African growth: Continuing from 2023’s muted growth, the South African economy recorded another lackluster growth rate in 2024. The annual growth also came in lower than the Treasury forecast of 1.3% at the beginning of the year. The insipid growth was registered despite a marked improvem...
South Africa’s Budget 2025 uncertainty continues
SOUTH AFRICA · Report · 30 Apr 2025
The turbulence surrounding South Africa’s 2025 Budget has shown no signs of easing. Initially postponed from its traditional February slot to March 12—marking an unprecedented delay—the Budget has continued to face intense political debate, particularly over the proposed value-added tax (VAT) inc...