10 February, 2020
Forestry and Forest Products Industry Outlook for 2020
The South African economy has significantly underperformed its peers for at least a decade. Low GDP growth rates, increasing unemployment, low levels of investment, burgeoning Government debt, the fall out from the State Capture project and the increasing likelihood of a further ratings downgrade. Despite this, the Government seems incapable of making the necessary structural reforms needed to improve growth for fear of upsetting its alliance partners. It would appear that there is no end in sight and that these unfavourable conditions will prevail throughout 2020.
This unfavourable economic climate has had a severe impact on the SA Forest sector, in particular the Sawmilling Industry, Mining Timber Industry and the Pole treating Industry i.e. those Industries that the dependant on the local market for the sale of their products.
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Source: Forestry South Africa