Business confidence dips on the back policy uncertainty

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.usiness confidence fell in April and May, reflecting uncertainty about future policy ahead of the elections, and recovery rests on whether coalition talks among political parties result in a government that can take the struggling economy forward.

Pre-election polls showing that the ANC would lose its majority in the National Assembly for the first time in 30 years made businesses nervous about future policy, and this would persist until there was a clearer picture of who would govern the country at the conclusion of current talks among parties, Sacci chief executive Alan Mukoki said.

Mukoki said the uncertainty was likely to prevail for some time “until there is certainty of what’s going to happen at the National Assembly; whether the parties that emerge agree on what policy options for South Africa in terms of growing the economy, dealing with the issues of unemployment, of inequality etc”.

According to Tuesday’s report, the decrease in overseas tourists and the decline in merchandise import volumes weighed on the BCI in May, while a moderate boost came from merchandise export volumes and new vehicle sales. “We will look at the economy and what’s needed to get the economy growing, because that’s the only way out. There’s no easy, populist way that we could get out of this quagmire that we found ourselves in at the moment,” he said“So it is a positive in the sense that it seems like there are some positive elements in the political system that understand this necessity for the economy to grow, create jobs and become more inclusive.

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