External Debt in South Africa
South Africa - External DebtAfter shrinking in the first quarter on rolling blackouts, the economy averted technical recession in the second quarter on a strong bounce-back in domestic demand. The current account deficit widened in Q2, however, as a turnaround in demand boosted imports while the rand was weak in the quarter. Turning to Q3, the upturn appeared short-lived, with manufacturing activity falling again in July and business confidence slipping further into pessimistic territory in July–August, tumbling to an all-time low in August. In better news, Moody’s hinted earlier this month that there is now “low likelihood” that the agency will downgrade South Africa’s credit rating to junk status in its November review, which was previously widely anticipated by market analysts. Meanwhile, in late-August, the National Treasury proposed selling off coal-fired power stations owned by Eskom in a bid to help alleviate the financially troubled, state-owned electricity provider’s hefty debt burden.
South Africa - External Debt Data
|External Debt (% of GDP)||38.3||40.6||37.2||48.0||48.8|
5 years of economic forecasts for more than 30 economic indicators.
South Africa External Debt Chart
Source: South African Reserve Bank and FocusEconomics calculations.
South Africa Facts
|Bond Yield||8.10||0.29 %||Sep 04|
|Exchange Rate||14.81||-0.21 %||Sep 04|
|Stock Market||0.1||-0.44 %||Sep 04|
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September 18, 2019
Consumer prices rose 0.3% over the previous month in August, a slightly smaller upturn compared to the 0.4% month-on-month increase in July.
September 10, 2019
The contraction of the manufacturing sector eased in July.
September 4, 2019
In August, the IHS Markit Purchasing Managers’ Index (PMI) regained lost ground in August, climbing to 49.7 from 48.4 in July.
September 3, 2019
South Africa’s economy escaped technical recession in the second quarter, bouncing back from the first-quarter’s marked contraction, leading to gains in the rand.
August 21, 2019
Consumer prices rose 0.4% over the previous month in July, matching June’s month-on-month upturn.