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Economists See FY20 GDP around -7%; ANC Top 6 to Discuss Zuma

SOUTH AFRICA

LOCAL NEWS

  • Economists expecting a substantial contraction in GDP this week for FY20 ~7%, based on forecasts of 5-5.5% for 4Q20 GDP
  • Local economist says bolder steps need to be taken in terms of slashing expenditure, particularly in SOEs and by cutting the size of Cabinet.
  • Ramaphosa, however, has said there will be no changes in Cabinet size any time soon
  • Today marks the deadline for Ex-president Zuma to file affidavits to the Constitutional court in his contempt of court case.
    • ANC's top six are expected to meet some time this week to discuss his conduct and try to persuade him to comply with the courts
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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