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SOUTH AFRICA: Cabinet Talks Ongoing, BER Flags Potential For Faster GDP Growth

SOUTH AFRICA
  • Gauteng Premier Panyaza Lesufi is facing a self-imposed deadline for the announcement of the provincial cabinet after negotiations hit a snag over the weekend. Lesufi said on Sunday that he wanted to unveil the new administration within the following 72 hours. Negotiations are ongoing at the national level as well, with some media outlets touting progress yesterday, albeit without providing much in the way of concrete details.
  • The Bureau for Economic Research (BER) said that economic growth in South Africa could accelerate to +3.5% Y/Y by 2029 if the government manages to implement promised reforms. The forecast was modeled on the economic reforms currently being prepared by a special unit within the South African Presidency called Operation Vulindlela.
  • Ex-SARB Deputy Governor Kuben Naidoo warned participants of a conference hosted by Operation Vulindlela that loadshedding could return if mining production is ramped up, as the sector's poor performance has had the unintended consequence of helping keep the lights on over the past three months or so.
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