Browsing: SACCI

South Africa which is currently under serious economic situations has also sustained a rather historic slump in the business confidence index in 34 years according to last year’s data.

According to a report by Bloomberg, the statistics compiled by the South African Chamber of Commerce and Industry (SACCI), showed that the business confidence declined to an average of 92.6 from a two-year high record of 95.5 in 2018, that being the lowest record since 1985.

Delays in policy implementation, deteriorating public finances and power cuts which escalated in December 2019 have been associated are crucial factors that define the fate of investment in South Africa and why the index matters.

South Africa’s treasury 2019 budget review shows that real GDP growth in 2019 was expected to grow slowly to 1.5 per cent, and expected to improve moderately to 2.1 per cent in 2021.

On the other mark, Bloomberg highlighted that …