South Africa after the unrest

There are signs that the worst of the violence and unrest that has gripped South Africa this week may be over. Any hit to economic activity is unlikely to be long-lasting but the risk that the government’s austerity plans are watered down has increased.
Jason Tuvey Senior Emerging Markets Economist
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There is clearly a lot of uncertainty over how the protests in South Africa in recent days will develop but there are reasons to think that the impact on economic activity will be towards the milder end of the spectrum. Perhaps a bigger risk is that the protests signal broader discontent with the current weakness of the economy, limiting the government’s ability to push through austerity and put the public debt position back on to a sustainable path.

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Emerging Europe Data Response

Turkey Industrial Production & Retail Sales (May)

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13 July 2021
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