Several economic data releases are due out this week as the year draws to a close, with the South African Revenue Service’s (SARS’s) 2017 Tax Statistics Bulletin coming out on Tuesday, while on Thursday, the Reserve Bank will release its quarterly bulletin for the third quarter. Both are crucial sets of data that are instructive of how fiscal and monetary policy intersect. The bulletin will give a breakdown of the sources of SARS’s tax revenue, as well as areas in which collection may have declined or improved. The bulletin is a joint SARS and Treasury initiative. It is important because it gives a detailed account of revenue-collection trends across the board. The Reserve Bank’s bulletin will give an indication of how the current account performed. BNP Paribas economist Jeff Schultz expected the current account deficit to narrow to 1.8% of GDP in the third quarter, from a 2.4% shortfall of GDP in the second quarter, while First National Bank chief economist Mamello Matikinca foreca...
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