Positive expectations for the economy under the new Presidency

Notwithstanding improved confidence, economic growth data for 2017 show a slowdown in GDP growth to 2.4 percent for the year. This was largely expected, and reflects the impact of the closure of the BCL copper-nickel mine in October 2016.

To that extent, the slowdown is temporary, and we expect growth to recover to 4-5 percent in 2018. This will result from the BCL effect falling out of the GDP growth calculations during the year, an anticipated increase in diamond production, and the impact of fiscal expansion given the projected substantial growth in government spending in the 2018/19 financial year.