Assessments

South Africa's Grim Economic Reality Shrinks Its Budget Aspirations

Feb 27, 2020 | 15:47 GMT
Tradesmen stand on the side of the road in Johannesburg, South Africa, seeking work.

Unemployed builders, tilers and plumbers seeking employment stand on the side of a road in Johannesburg soliciting for jobs. The government has revised South Africa's already grim economic outlook downward in its budget review for the 2020 fiscal year.

(GUILLEM SARTORIO/AFP via Getty Images)

South Africa’s newest budget review paints a bleak picture for the country’s economy over the next three years. The budget plan for the 2020 fiscal year, unveiled Feb. 26, projects economic growth over the next three years of just 0.9 percent, 1.3 percent and 1.6 percent, respectively – and this...

Article Search

Copyright © Stratfor Enterprises, LLC. All rights reserved.

Stratfor Worldview

OUR COMMITMENT

To empower members to confidently understand and navigate a continuously changing and complex global environment.

GET THE MOBILE APPGoogle Play