Economists lower SA's growth expectations amid GNU challenges and global uncertainty.
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GUEST - Sifiso Skenjana - Economist and the managing director of ESG Analytics.
South Africa’s top economists have downgraded their GDP growth forecasts for 2025, citing increased domestic taxes and a new wave of high tariffs from the United States.
The week has already gone down in history, with US President Donald Trump imposing a 30% “reciprocal” tariff on South Africa, citing the country's 60% tariff on US goods. But the truth is, South Africa's tariffs on US goods are around 7.5%, and this new move is largely based on the US trade imbalance with South Africa.
South Africa’s top economists have downgraded their GDP growth forecasts for 2025, citing increased domestic taxes and a new wave of high tariffs from the United States.
The week has already gone down in history, with US President Donald Trump imposing a 30% “reciprocal” tariff on South Africa, citing the country's 60% tariff on US goods. But the truth is, South Africa's tariffs on US goods are around 7.5%, and this new move is largely based on the US trade imbalance with South Africa.