Uptick in business confidence met with caution
Improvement in Sacci’s index from 34-year lows is unlikely to be sustained without structural reforms, says economist
A surprise upswing in business confidence off 34-year lows can be used to steer the economy towards recovery if the government implements its own proposals for structural reforms, according to the SA Chamber of Commerce and Industry (Sacci).
Business sentiment, as measured by Sacci’s business confidence index (BCI) released on Wednesday, took a positive turn in September, offering the country a chance to implement proposals for economic restructuring. And with the upcoming medium-term budget, it could set the tone for an economic turnaround, the chamber said.