The move will reduce the prime lending rate from 10% to 9,75% with effect from Friday. Senior economist at Nedbank Niky Weimar says the move will not do much to boost the economy.
South Africa’s public finances are under severe strain after repeated bailouts to ailing state firms like power utility Eskom and a steep run-up in public debt. Weak growth was a major reason why inflation remained under control last year, with consumer price growth hitting a nine-year low in November.
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So literally months after 'securing billions' from the famous trillion investment scheme that was live globally, none of those billions are materializing to revive the economy? Where is the truth? Where are the billions?