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South Africa’s budget targets growth, while Nigeria tightens

South Africa’s new finance minister used this week’s budget statement to signal a shift away from further austerity, suggesting that Pretoria is prioritising support for the weak economy. Nigerian officials, by contrast, promised to tighten policy. Given poor implementation, however, this tells us little about actual expenditure. Looking ahead, we think that figures out next week will show that inflation accelerated again in Kenya.

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