You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

SA riots could hit GDP growth, says Treasury

Could shave off between 0.7 and 0.9 of a percentage point from this year’s economic growth.
Image: Waldo Swiegers/Bloomberg

South Africa’s National Treasury said on Tuesday that economic damage from riots last month could shave off between 0.7 and 0.9 of a percentage point from this year’s economic growth.

“We are concerned about the potential scarring effect on employment and sentiment that may outlive the shock and impact potential growth,” the National Treasury said in a presentation to a parliamentary committee.

The July unrest started as sporadic protests over the jailing of former president Jacob Zuma, but it quickly escalated into arson and looting fuelled by the poverty and inequality that persist almost three decades after the end of apartheid.

COMMENTS   4

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

Aagh never — The ANC will not have any of that — It is so colonial !!

If we take a peek at the Richemont share price tinyurl dot com/3xuzzwbx during lockdown we see an amazing increase of price. This share is about luxury goods and is a proxy for the financial largesse of the ultra rich. Clearly the virus has been very kind to them, even though very unkind to so many that have lost everything they ever had including hope. However there is indication that the long term bull Cycle for Richemont is about to to have a corrective bear Cycle foist upon it. So what can this be telling us?

Transformation in action.

Redistribution of wealth.

At the end of the day EVERYBODY will own a piece of NOTHING!!

Not exactly “news.” Anyone who couldn’t work this out for themselves, must have just crawled out from under a rock.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles:
Click a Company: