The South African Reserve Bank (SARB) has published a new review of the country’s financial stability across key economic sectors.
One of the main focuses of the report is households, with the SARB noting that household finances remain under pressure, in line with challenging economic and labour market conditions.
The central bank said that real disposable income grew by only 0.9% in 2019 (slowing from 1.5% in 2018). Household net wealth gains have also slowed on account of muted asset price gains.
“As a share of disposable income, household net wealth has been gradually declining…