All in all, it is a very uncertain and difficult decade for individuals, companies and countries. South Africa’s weak first quarter annualised growth rate of 0,9 per cent is, to some extent, consistent with what we see happening globally and in other emerging markets and these developments have, in part, contributed towards a weaker rand exchange rate. But domestic factors have also contributed.
These have to do with lost production in the mining sector, instability caused by violent and often illegal strike action and persistent capacity constraints in infrastructure, electricity in particular.