François Groepe: Impact of the global financial crisis on South Africa Keynote address by Mr François Groepe, Deputy Governor of the South African Reserve Bank, at a luncheon hosted by the Western Cape region of the Institute of Internal Auditors, Cape Town, 6 June 2014.
Unemployment remains high, at 25.5 per cent. With electricity price increases and last year’s personal tax increase further constraining consumer income growth, the Bank projects household consumption growth to be below 2 per cent for 2015 and 2016.