00:04economy is showing early signs of a turnaround after years of anemic growth and because of
00:12this shift many hope as South Africa's finance minister being budget this positive ratings
00:18trajectory along with improving growth prospects and a steady interest rate environment will give
00:25businesses and consumers greater certainty we are seeing some of those green shoots in the local
00:33economy largely driven by cyclical factors but also structural reforms and structural factors
00:38that are coming to show and be some some fruits in the medium term strengthening the outlook is a
00:45firmer currency and easing inflation lower inflation interest rates that are starting to fall a part of
00:52the story around why the household sector has been relatively robust right so you would have seen the
00:57real the the retail sales rather performing really well even at the end of the year we still get you
01:02know an indication that retail sales probably contributed positively to GDP the tailwinds
01:12from structural reforms that will drive and growth closer to to two percent if we continue on the
01:17reform momentum and build business confidence as a result and could even see real GDP growth rise to
01:26about three percent in the next five or so years it's only after we get you know fixed investment going
01:40especially with the structural reforms real GDP growing that we will see some of these socio-economic
01:45issues also starting to turn the corner so we're still a bit far away from where we want to be
01:50but
01:50I think we're moving in the right direction
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