South Africa needs to fast-track structural reforms to cushion the economy from the effects of US President Donald Trump’s punishing tariffs, the country’s central bank said.
“Accelerating structural reforms could boost productivity, mitigating the loss of export competitiveness,” the South African Reserve Bank said in its semi-annual Monetary Policy Review published on Thursday in the capital, Pretoria. “Efforts should also focus on diversifying export markets and strengthening existing trade partnerships, including full implementation of the African Continental Free Trade Area agreement.”