Public Debt in South Africa
South Africa - Public DebtEconomic activity in the third quarter appeared bleak, following the second quarter’s notable rebound. In July–August, manufacturing and mining output continued to shrink, and electricity supply swung to decline, while retail sales growth slid in July and the PMI fell in September. Meanwhile, the country’s fiscal challenges continue to mount, with Fitch Ratings downgrading Eskom’s stand-alone credit rating further into junk territory on 30 September. The cut affirmed the state power provider’s waning ability to ease its hefty debt load, intensifying the pressure on public finances. In the latest bid to alleviate Eskom’s cost burden somewhat, ministers called on coal producers to slash prices. Furthermore, the National Treasury’s bailout conditions—presented to Parliament on 9 October and which will require monthly updates to monitor debt repayments and minimize default risk—have eased Eskom’s risk premium.
South Africa - Public Debt Data
|Public Debt (% of GDP)||44.1||47.0||49.3||51.5||53.0|
5 years of economic forecasts for more than 30 economic indicators.
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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October 10, 2019
Conditions in the manufacturing sector deteriorated in August.
October 3, 2019
Business conditions in South Africa’s private sector deteriorated for the fifth consecutive month, with the IHS Markit Purchasing Managers’ Index (PMI) sliding to 49.2 in September from 49.7 in August.
September 19, 2019
At its meeting ending 19 September, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) unanimously decided to keep the repurchase rate unchanged at 6.50%, after having cut rates by 25 basis points at its previous session.
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.