Publications
South Africa’s national saving rate was down to 15.6% of GDP in the first quarter of this year from 16.7% in the first three months of last year, weighed by a spendthrift government whose savings rate was a minus 3.5% in the first quarter.
The Reserve Bank’s quarterly bulletin showed that savings in the country’s private sector accelerated due to lower seasonally adjusted tax and dividend payments. Private sector outweighed the increased dis-saving by general government, while household savings remained at a low rate of 2.5 of GDP as households struggle to finance the high costs of living.
