SA’s economic nosedive ends hope of Ramaphosa confidence boost

04 June 2019 - 22:07The economic nosedive in the first quarter of 2019 has ended hopes that President Cyril Ramaphosa’s eight-month-old promises of economic stimulus has boosted confidence, pointing to faster and deeper cuts in state spending as the country seeks to stave off credit-ratings downgrades.

The rand reacted negatively, falling as much as 2.1% against the dollar in intraday trade. Shortly before the JSE closed, the rand was down 1.68% at R14.6821/$, having lost 10.8% from its 2019 best of R13.2421 reached on January 31. Tuesday’s numbers were likely to bring forward both Reserve Bank interest rate cuts and accelerate policy reforms, analysts said. It also reflects negatively on Ramaphosa’s 14-point stimulus plan unveiled in September 2018.

ferialhaffajee Thank You ANC And South Africa that voted for them. We complain about the ANC, we should be moaning at the people who voted for them.

Er....DD......Ace.....Gwede....NDZ....Straatheid.....etc

Oliver_Speaking

Mr clean up MAN

ferialhaffajee We want to see true accountability , not continuous political expediency...

ferialhaffajee Bc we basicallly got same cards just reshuffed with some missing

the ThumaMina brigade needs to pull up its socks now. it seems to be getting worse.

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