The Economy The (slightly less) dismal science
All is not truly as awful with the economy as it might be. Well, OK, it is, but may not necessarily remain thus, according to a handful of economists, who believe that we should record GDP growth of as much as +4.5% this year, albeit off a base of -7%. And of course, unless Eskom go and do something stupid like hike our rates 15%… What’s that? Oh hell no. Which apparently, they fully intend doing, with the blessing of the High Court of the land. Anyway, the bulls among the dismal scientists assure us that businesses whose inventory plummeted during 2020 will be forced to restock, setting in motion a virtuous economic cycle. And the global economy – this one is kind of back handed – and capital inflows should also buoy us somewhat as vaccine regimes kick in among the world’s wealthier nations. Yay, or something. And if the energy reform takes off, well, the sky is, if not exactly the limit, then at least visible.
Comment: Here in the Beloved Country, all is never quite lost.