2023 won’t get any easier financially, warns economist
An economist has warned that 2023 may be just as tough, if not tougher, on South Africans’ finances.
This year, citizens are dealing with the rising cost of living.
The country has seen increases in the cost of food and fuel, among others, while interest rates have also been hiked.
Economic growth has been slower, with one of the hindrances being load shedding.
READ: Consumer inflation eases slightly in November
KPMG's lead economist Frank Blackmore says we are likely to kick off the new year with a higher repo rate.
"We could potentially see another increase in the repo rate early next year - January and March, depending on what's happening internationally.
"Not overspending yourself will be important next year, tightening one's belt, building up for times where there is growth more potentially in the market will be important for citizens."
