Capital expenditure trends imply slow growth that will continue to threaten the government’s ability to raise revenues
The Covid lockdown dramatically altered the relationship between SA and its global trading and financial partners. What followed was a dramatic improvement in the balance between exports and imports.
After 2020 exports, helped by higher prices, grew faster than imports, taking the balance of trade to almost 10% of GDP by the second quarter of 2021. As export prices have fallen off more recently the trade surplus has declined to a still impressive 4.8% of GDP...
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