Is the party over for commodities?
The sharp rise in gold, PGMs, oil and coal over the past two years has provided an unexpected windfall for SA, supporting the rand at a fragile time. But are there brewing signs that the run is over? And if so, what does that mean for SA?
05 May 2022 - 05:00
The commodity run of the past two years has paid off in spades for SA: the rand has remained improbably strong, while SA’s fiscus has benefited from an overall revenue overrun of almost R300bn. .
It’s a windfall that has allowed the authorities to loosen monetary policy and raise government spending, allowing SA to recover faster from the pandemic than many thought possible...
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