Worsening economy raises further red flags for SA business BY LEON KOK
South Africa has broken into a relatively vicious cycle of low confidence in recent years with government having become less investor friendly and ratings agencies constantly seeing fit to downgrade credit ratings.
Economic growth forecasts for the year 2015/16 are currently being revised downwards.
Leon Kok spoke to Old Mutual Investment Group chief economist Rian le Roux about these and other issues. Despite c o n c e r n s o v e r S A’ s competitiveness, non-gold export volumes have hit new highs, seemingly driven especially by iron ore, manganese and cars; capital spending in the economy has remained at historically high levels and household debt deleveraging appears to be slowing.