Johann Els

Last updated on 2015-02-17T18:32+0300.

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Johann Els said ( about Cyril Ramaphosa ) : “This demonstrates that Ramaphosa has taken the view that the government needs to do everything it can to restore investor confidence in the country,” External link

iol Monday, June 14, 2021 8:05:00 AM EAT

Johann Els said : “The president, I think, feels more confident and stronger within the ANC,” External link

news24 Sunday, June 13, 2021 11:34:00 AM EAT

Johann Els said : “The president, I think, feels more confident and stronger within the ANC,” External link

news-yahoo Sunday, June 13, 2021 10:03:00 AM EAT

Johann Els said : “We might have stricter restrictions coming in a few weeks, but that is built in my baseline case for economic growth of 5 percent this year,” “The slow vaccination roll-out programme is a risk we will have to look into, but a more savvy investor will be aware that the economy is doing better now than it was last year” External link

iol Monday, May 31, 2021 8:21:00 AM EAT

Johann Els said : "I am pretty sure some corruption is still happening but because of the focus on that, it is nowhere near the corruption we might have had five, eight, 10 years ago," "I do not think it is a strong argument of the unions to say they have to pay for corruption. The corruption fight is happening now the next phase is reducing other wastages," External link

news24 Tuesday, April 27, 2021 10:26:00 AM EAT

Johann Els said : “South Africa is still not in the clear, and there’s a still a long way ahead, but the latest national budget looked much better than many expected,” External link

news24 Thursday, April 8, 2021 8:05:00 AM EAT

Johann Els said : “The overall CPI-basket is still muted as food prices, medical aid insurance tariffs, school fees, and property rentals are easing off quite a bit,” “Overall, the consumer basket will stay muted at around 4 percent this year despite the fuel increase. This year will be far better for consumers than last year” External link

iol Wednesday, April 7, 2021 9:03:00 AM EAT

Johann Els said : “They are going to keep rates unchanged, and might adjust their growth forecast upwards,” “Despite petrol price increases, we are expecting the rate of inflation to remain well contained below the target band for a variety of reasons, such as school fees and medical aid costs” External link

iol Tuesday, March 23, 2021 2:52:00 PM EAT

Johann Els said : “The missing link is stronger confidence and 2021 could be the turning point for confidence,” External link

iol Sunday, March 7, 2021 12:21:00 PM EAT

Johann Els said : “The risks are very clear, but I think the government is going to try their utmost to get to the Budget forecast. There might be some slippage, but nothing huge,” “The unions will have to come to the table and say we don’t want any retrenchments or we are willing to accept so many retrenchments” External link

iol Wednesday, March 3, 2021 8:10:00 PM EAT

Johann Els said : “There are many risks with the possible resurgence of Covid-19 infections and I don’t want to gloss over them,” “But I expect a strong economic recovery this year in the region of 5 percent on the back of very strong global growth” External link

iol Tuesday, March 2, 2021 11:50:00 AM EAT

Johann Els said : “It’s all about creating confidence. It should be about economic growth and creating jobs. Nobody is going to pay the money those companies are worth in real terms,” “Privatisation is also going to reduce the drag in fiscal positions as private sector companies will most likely run these industries better than the government” External link

iol Monday, February 15, 2021 8:39:00 AM EAT

Johann Els said : “We were told last year that tax increases this year would aim to raise another R5 billion, which is small in the bigger scheme of total tax revenue. So, that is not unexpected or unreasonable,” “If anything, a budget overrun would be a welcome boon for the government to tackle the coronavirus through a comprehensive vaccine programme effectively” External link

iol Friday, February 5, 2021 8:45:00 AM EAT

Johann Els says ( about Cyril Ramaphosa ) : “President (Cyril Ramaphosa) has spoken for years about public-private partnerships, but now it seems they want to go it alone,” “The private sector is ready and willing to help wherever it can, and can be a powerful partner with government to end this pandemic as quickly as possible” External link

news24 Thursday, February 4, 2021 5:19:00 PM EAT

Johann Els said : “Something that hasn't yet got the attention I think it deserves is that the latest figures from the National Treasury show that we're heading for a budget overrun,” “Due to higher-than-anticipated tax revenue last year, there is a revenue surplus of between R45.8bn to R106bn” External link

iol Thursday, February 4, 2021 11:06:00 AM EAT

Johann Els said : “I think that R2.5bn is not much of an investment when you look at a broader picture, but since the economy is under such pressure R2.5bn is every cent that we need,” “I also think that once Covid-19 figures start going down, we might have an economy that grows 5 percent as economic variables might be strong. So maybe this is a delay in the investment and not a total cancellation” External link

iol Sunday, January 17, 2021 4:17:00 PM EAT

Johann Els added : “However, we have to keep in mind that vaccines will be the biggest downside risk if we don’t get them on time,” External link

iol Wednesday, January 13, 2021 10:24:00 AM EAT

Johann Els said : “The V-shape recovery will likely mean that wild growth is slightly better than feared previously,” “We still sit with the level of GDP significantly below what we had before the Covid-19 crisis. According to my numbers, they'll still take us into 2022, before we reach the 2019 year level again” External link

iol Thursday, December 10, 2020 11:30:00 AM EAT

Johann Els said ( about Joseph Biden ) : “I’m not sure if this will add further because the global economy is recovering due to Joe Biden’s victory in the US election and hopes for the Covid-19 vaccine, pushing a risk on trade into emerging markets,” “Our medium-term outlook is slowly improving” External link

iol Monday, November 23, 2020 8:30:00 AM EAT

Johann Els said ( about Joseph Biden ) : “A weak dollar is great for emerging economy currencies – and thus for the rand,” “The Biden win thus strengthens my view of a strong rand exchange rate in the short term, despite weak local fundamentals. Thus, in the short term, the rand exchange rate will be determined by global factors more than by local issues” External link

iol Tuesday, November 10, 2020 9:51:00 AM EAT

Johann Els said ( about Donald Trump ) : “A Trump victory shouldn’t have an adverse effect on our local economy,” “A more positive global growth environment will be supportive for South Africa’s growth, but keeping South Africa out of a debt trap will need more significant policy reform and actual implementation of the government’s plans” External link

iol Thursday, November 5, 2020 8:04:00 AM EAT

Johann Els explains : “The risk we are facing as an economy is highlighted in the abandonment of the active scenario that was presented in June as the only way to avoid a debt trap,” “With the debt ratio expected to peak even higher (95% vs 87.4% in June) – and with clear upside risks – the fiscal cliff is getting ever closer” External link

dailymaverick Monday, November 2, 2020 8:36:00 PM EAT

Johann Els points out : “The February Budget proposed R160bn in wage bill cuts and the June Budget added R230bn in cuts in non-wage non-interest spending, thus a total of R390bn. But the MTBPS leaves total cuts now of only R306bn,” “This MTBPS reduced the proposed non-wage, non-interest spend to decline by only R68bn, which means that the bulk of proposed expenditure savings is set to come from Wage Bill savings, which will see a total of R238bn of savings – R160bn as announced in February of an additional R78bn. Government plans to freeze public sector wages for the next three years” External link

dailymaverick Monday, November 2, 2020 8:36:00 PM EAT

Johann Els said : “This is very conservative revenue budgeting, providing scope for revenue outperformance,” “There was also no mention of extra revenue streams such as the sale of spectrum or potential overshoot of mining taxes” External link

iol Thursday, October 29, 2020 10:01:00 AM EAT

Johann Els said : “We should definitely be expanding on it. It is the absolute wrong approach to try and stimulate the economy through either extra expenditure or reducing expenditure cutbacks,” “In summary, the speech was mostly as expected and lacked real reform measures. It lacked a true ‘whatever it takes’ approach needed to lift growth in the medium term to 2.5 percent plus on a sustainable basis” External link

iol Sunday, October 18, 2020 1:16:00 PM EAT

Johann Els warns : “We are undeniably facing our most crucial MTBPS in South Africa’s history, and while we have come to expect some level of slippage from the fiscal consolidation targets set in the past, there simply isn’t any room left for this in this year’s MTBPS,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els explained : “Our number one problem is a severe lack of growth, an issue that has persisted for the last several years,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “The National Development Plan provides an excellent set of policies – these should be implemented without delay,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “We also need a reduction in the cost of doing business and red tape; improved access to development finance for SMMEs, market-friendly changes to SA’s investment regulations, which would go some way towards encouraging private funding of vital infrastructure development; support for agriculture, tourism and similar high job creation sectors; attracting skilled immigrants to reduce the skills shortage and revamping the skills framework and a range of basic education reforms to improve outcomes for workers,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els concluded : “This is categorically the wrong way to go about it. Policy change should focus on confidence and growth-enhancing measures, but urgent implementation remains the most crucial issue for us,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “The big game-changer in terms of lifting future growth prospects towards a higher level to at least 2percent annual growth should be a radical restructuring of state-owned enterprises,” “It’s nothing short of privatisation. In my mind, privatisation is doing whatever it takes to grow the economy. The probability of privatisation may be low, but these are dire and extraordinary circumstances” External link

iol Tuesday, October 13, 2020 11:05:00 AM EAT

Johann Els says : “I think this is the end of SAA and that is ok,” External link

theafricareport Friday, September 18, 2020 12:05:00 PM EAT

Johann Els says : “Bankrupt state-owned enterprises (SOEs) should be allowed to fail,” “I am therefore happy that the Treasury has not provided more funding to keep SAA afloat” External link

theafricareport Friday, September 18, 2020 12:05:00 PM EAT

Johann Els says : “The new Fed monetary policy stance will mean low US interest rates for much, much longer and that means emerging market interest rates can also stay lower for longer” External link

dailymaverick Wednesday, September 2, 2020 2:53:00 AM EAT

Johann Els said ( about Lesetja Kganyago ) : "So his [Kganyago] legacy was to go back to an era of positive real interest rates," External link

news24 Thursday, July 23, 2020 9:49:00 AM EAT

Johann Els said : "Apart from a reference in the speech that the State will be implementing policy changes highlighted in Treasury's 2019 policy document, no new policy measures to address growth were announced, which in my view was very disappointing," External link

irishsun Friday, June 26, 2020 12:05:00 AM EAT

Johann Els said : "Apart from a reference in the speech that the State will be implementing policy changes highlighted in Treasury’s 2019 policy document, no new policy measures to address growth were announced, which in my view was very disappointing," External link

news24 Thursday, June 25, 2020 11:07:00 PM EAT

Johann Els said : "The numbers won't be great, that we know," External link

news24 Wednesday, June 24, 2020 6:41:00 AM EAT

Johann Els said : "Stronger economic growth going forward is what everyone needs Everyone will benefit from stronger economic growth, it's just to get everyone to agree in terms of what path we will follow to get there," External link

news24 Friday, June 19, 2020 7:22:00 PM EAT

Johann Els said : “These are extraordinary circumstances, we require extraordinary measures,” External link

businessday Tuesday, June 9, 2020 8:18:00 AM EAT

Johann Els said : “In addition to hoping to see a more significant rate cut, the SARB should also have started quantitative easing as in the US by pre-announcing its size and duration,” External link

iol Friday, May 22, 2020 11:18:00 AM EAT

Johann Els said : “There are extraordinary circumstances, we require extraordinary measures,” External link

businessday Thursday, May 14, 2020 7:41:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

modernghana Wednesday, February 26, 2020 9:39:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

citizen Wednesday, February 26, 2020 7:37:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

modernghana Wednesday, February 26, 2020 7:13:00 PM EAT

Johann Els said : "We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us," External link

news-yahoo Wednesday, February 26, 2020 6:42:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

ibtimes Wednesday, February 26, 2020 6:24:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

afp-en Wednesday, February 26, 2020 5:52:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

ngrguardiannews Wednesday, February 26, 2020 4:18:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

guardian-ng Wednesday, February 26, 2020 3:38:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

independent-UG Wednesday, February 26, 2020 2:47:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

theCitizen Wednesday, February 26, 2020 10:35:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

nation-ke Wednesday, February 26, 2020 9:47:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

ibtimes Wednesday, February 26, 2020 7:18:00 AM EAT

Johann Els said : "We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us," External link

news-yahoo Wednesday, February 26, 2020 7:16:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

afp-en Wednesday, February 26, 2020 6:32:00 AM EAT

Johann Els said : “While VAT was increased to 15% in February 2018 and was then left untouched last year, another VAT rate increase cannot be ruled out in the face of mounting pressure to address widening deficits and climbing debt-to-GDP ratio” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “Treasury has not been able to rein in the budget deficits over the last few years, so it is really now or never. We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “This will be difficult to pull off politically and would need to be negotiated with unions but potentially, it could be a big game-changer. Just limiting wage bill growth to 4% could save R100 billion. While the intention in the Budget must be on the spending side, I am doubtful that the Finance Minister will be able to do enough,” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “While VAT was increased to 15% in February 2018 and was then left untouched last year, another VAT rate increase cannot be ruled out in the face of mounting pressure to address widening deficits and climbing debt-to-GDP ratio” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : “Treasury has not been able to rein in the budget deficits over the last few years, so it is really now or never. We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : “This will be difficult to pull off politically and would need to be negotiated with unions but potentially, it could be a big game-changer. Just limiting wage bill growth to 4% could save R100 billion. While the intention in the Budget must be on the spending side, I am doubtful that the Finance Minister will be able to do enough,” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : "We must first sort out our public finances and stabilize the debt ratio. We've got a budget deficit running at around 6 percent of the GDP and a debt ratio that was 26 percent in early 2000, now it's more than 60 percent and by Treasury's own forecast it is going towards 80 percent in a few years," External link

iol Sunday, February 16, 2020 10:09:00 AM EAT

Johann Els told : “Despite what we saw in the disappointing Medium-term Budget, expenditure cuts could still be on the cards, but they would have to be significant to make any kind of impact,” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : “Treasury’s options for getting the Budget and SA debt under control include printing money, which is highly unlikely; allowing higher inflation, which is also highly unlikely; raising taxes, which is difficult in the current environment; selling assets, which is unlikely on a large scale and will take time; selling of spectrum, which will have a small impact and will take time; and then cutting expenditure and lifting growth,” “Considering these options, cutting expenditure and lifting growth through structural policy adjustments remain Government’s most viable solutions” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : “Limiting growth in the Wage Bill is probably going to be easier that cutting jobs or freezing wage increases. This could lead to a lower budget deficit fairly quickly. Limiting growth to 4% per annum could mean cumulative savings of R104 billion and a deficit of -5.1%, compared to the Mini Budget target of -5.9%,” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : "If the Eskom plan and MTBPS (budget) are received as acceptable and Moody’s keeps our rating outlook unchanged at stable, rand and bond relief rallies are likely," External link

4-traders Saturday, October 26, 2019 12:42:00 PM EAT

Johann Els said : “Despite delays, the ‘winds of change’ investment theme is still alive,” “The next five years are still expected to be better than the past five years but urgent reforms are crucial,” External link

businessday Wednesday, September 11, 2019 3:49:00 PM EAT

Johann Els said : “There's room for expenditure cuts that won't hurt growth,” External link

businessday Wednesday, September 11, 2019 3:49:00 PM EAT

Johann Els said : “The state-owned entities are a huge risk in terms of government finances,” External link

businessday Tuesday, June 25, 2019 9:35:00 PM EAT

Johann Els said : “I don’t think we are at a tipping point yet, but we are getting ever closer,” External link

businessday Tuesday, June 25, 2019 9:35:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

miningweekly Thursday, June 20, 2019 2:03:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

businessday Wednesday, June 19, 2019 7:12:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

miningweekly Wednesday, June 19, 2019 11:38:00 AM EAT

Johann Els said : "We have no option but to rescue Eskom," External link

irishsun Wednesday, June 19, 2019 11:33:00 AM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

news-yahoo Wednesday, June 19, 2019 11:22:00 AM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

news-yahoo Wednesday, June 19, 2019 7:19:00 AM EAT

Johann Els said : “After the first-quarter GDP, I have also revised my forecast to 0.9% growth for the year, but it does mean that in the second half we should expect, or we're at least hoping for, a rebound in growth — that's not impossible,” External link

businessday Thursday, June 6, 2019 4:47:00 PM EAT

Johann Els said : “There is a very strong correlation between consumers and businesses being confident about the future and strong economic growth, we saw that in the period of 2002 to 2008 when Thabo Mbeki was president, Trevor Manuel was minister of finance and Tito Mboweni was governor of the Reserve Bank,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said ( about Cyril Ramaphosa ) : “The average growth over the past four years has been 1%, which is dismal compared to the period 2002 to 2007 when we had about 5% GDP growth, so Ramaphosa will highlight economic growth and unemployment,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said : “Investors want to see stable economic policies before they commit to investing in the country and in this state of the nation address economic is even more important than ever because not only unemployment, the budget and the debt ratio all hang around economic growth,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said : “I'd say there's a 50-50 chance SA will see another technical recession this year,” External link

businessday Tuesday, May 21, 2019 3:02:00 PM EAT

Johann Els said : “Markets tend to look forward — and I thus think, despite short-term noise and volatility ahead of the elections, markets are slowly taking a view that confidence could improve after the elections,” External link

businessday Wednesday, April 10, 2019 10:58:00 PM EAT

Johann Els said : “A good ANC election outcome and policy reform would lead to a stronger rand , based on improved confidence, and it could quite likely reach R12 to the dollar in 2019, with increased rand stability over the next few years if growth picks up in the direction of 3 to 3.5 percent ,” External link

iol Monday, December 17, 2018 4:23:00 PM EAT

Johann Els said : “Consumer fundamentals aren’t currently that bad and are likely to improve as confidence improves, as well as being in line with a cyclical economic pickup. In addition, investment could rise sharply again leading to growth possibly reaching 3 to 3.5 percent by 2021/2022,” External link

iol Monday, December 17, 2018 4:23:00 PM EAT

Johann Els said : “While Treasury will likely try to mitigate the impact on the deficit somewhat by also reporting lower spending and utilising the contingency reserve, the budget deficit will probably be close to 4% of GDP versus the 3.1% deficit target envisaged at the time of the February 2017 budget speech,” External link

mg Thursday, October 26, 2017 1:10:00 AM EAT

Johann Els said : “We didn’t expect Fitch to downgrade us, but we expected an outlook change to negative,” External link

iol Thursday, June 9, 2016 5:47:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
economist29.03%EN09/19/201619/09/2016
group economist12.90%EN09/19/201619/09/2016
senior economist58.06%EN09/14/201614/09/2016
Names Lang Count
Johann ElsEN94.12%
Johann ElsAF5.88%


 
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AfricaBrief

Johann Els

Last updated on 2015-02-17T18:32+0300.

About this image

sign

Quotes... Extracted quotes from

Johann Els said ( about Cyril Ramaphosa ) : “This demonstrates that Ramaphosa has taken the view that the government needs to do everything it can to restore investor confidence in the country,” External link

iol Monday, June 14, 2021 8:05:00 AM EAT

Johann Els said : “The president, I think, feels more confident and stronger within the ANC,” External link

news24 Sunday, June 13, 2021 11:34:00 AM EAT

Johann Els said : “The president, I think, feels more confident and stronger within the ANC,” External link

news-yahoo Sunday, June 13, 2021 10:03:00 AM EAT

Johann Els said : “We might have stricter restrictions coming in a few weeks, but that is built in my baseline case for economic growth of 5 percent this year,” “The slow vaccination roll-out programme is a risk we will have to look into, but a more savvy investor will be aware that the economy is doing better now than it was last year” External link

iol Monday, May 31, 2021 8:21:00 AM EAT

Johann Els said : "I am pretty sure some corruption is still happening but because of the focus on that, it is nowhere near the corruption we might have had five, eight, 10 years ago," "I do not think it is a strong argument of the unions to say they have to pay for corruption. The corruption fight is happening now the next phase is reducing other wastages," External link

news24 Tuesday, April 27, 2021 10:26:00 AM EAT

Johann Els said : “South Africa is still not in the clear, and there’s a still a long way ahead, but the latest national budget looked much better than many expected,” External link

news24 Thursday, April 8, 2021 8:05:00 AM EAT

Johann Els said : “The overall CPI-basket is still muted as food prices, medical aid insurance tariffs, school fees, and property rentals are easing off quite a bit,” “Overall, the consumer basket will stay muted at around 4 percent this year despite the fuel increase. This year will be far better for consumers than last year” External link

iol Wednesday, April 7, 2021 9:03:00 AM EAT

Johann Els said : “They are going to keep rates unchanged, and might adjust their growth forecast upwards,” “Despite petrol price increases, we are expecting the rate of inflation to remain well contained below the target band for a variety of reasons, such as school fees and medical aid costs” External link

iol Tuesday, March 23, 2021 2:52:00 PM EAT

Johann Els said : “The missing link is stronger confidence and 2021 could be the turning point for confidence,” External link

iol Sunday, March 7, 2021 12:21:00 PM EAT

Johann Els said : “The risks are very clear, but I think the government is going to try their utmost to get to the Budget forecast. There might be some slippage, but nothing huge,” “The unions will have to come to the table and say we don’t want any retrenchments or we are willing to accept so many retrenchments” External link

iol Wednesday, March 3, 2021 8:10:00 PM EAT

Johann Els said : “There are many risks with the possible resurgence of Covid-19 infections and I don’t want to gloss over them,” “But I expect a strong economic recovery this year in the region of 5 percent on the back of very strong global growth” External link

iol Tuesday, March 2, 2021 11:50:00 AM EAT

Johann Els said : “It’s all about creating confidence. It should be about economic growth and creating jobs. Nobody is going to pay the money those companies are worth in real terms,” “Privatisation is also going to reduce the drag in fiscal positions as private sector companies will most likely run these industries better than the government” External link

iol Monday, February 15, 2021 8:39:00 AM EAT

Johann Els said : “We were told last year that tax increases this year would aim to raise another R5 billion, which is small in the bigger scheme of total tax revenue. So, that is not unexpected or unreasonable,” “If anything, a budget overrun would be a welcome boon for the government to tackle the coronavirus through a comprehensive vaccine programme effectively” External link

iol Friday, February 5, 2021 8:45:00 AM EAT

Johann Els says ( about Cyril Ramaphosa ) : “President (Cyril Ramaphosa) has spoken for years about public-private partnerships, but now it seems they want to go it alone,” “The private sector is ready and willing to help wherever it can, and can be a powerful partner with government to end this pandemic as quickly as possible” External link

news24 Thursday, February 4, 2021 5:19:00 PM EAT

Johann Els said : “Something that hasn't yet got the attention I think it deserves is that the latest figures from the National Treasury show that we're heading for a budget overrun,” “Due to higher-than-anticipated tax revenue last year, there is a revenue surplus of between R45.8bn to R106bn” External link

iol Thursday, February 4, 2021 11:06:00 AM EAT

Johann Els said : “I think that R2.5bn is not much of an investment when you look at a broader picture, but since the economy is under such pressure R2.5bn is every cent that we need,” “I also think that once Covid-19 figures start going down, we might have an economy that grows 5 percent as economic variables might be strong. So maybe this is a delay in the investment and not a total cancellation” External link

iol Sunday, January 17, 2021 4:17:00 PM EAT

Johann Els added : “However, we have to keep in mind that vaccines will be the biggest downside risk if we don’t get them on time,” External link

iol Wednesday, January 13, 2021 10:24:00 AM EAT

Johann Els said : “The V-shape recovery will likely mean that wild growth is slightly better than feared previously,” “We still sit with the level of GDP significantly below what we had before the Covid-19 crisis. According to my numbers, they'll still take us into 2022, before we reach the 2019 year level again” External link

iol Thursday, December 10, 2020 11:30:00 AM EAT

Johann Els said ( about Joseph Biden ) : “I’m not sure if this will add further because the global economy is recovering due to Joe Biden’s victory in the US election and hopes for the Covid-19 vaccine, pushing a risk on trade into emerging markets,” “Our medium-term outlook is slowly improving” External link

iol Monday, November 23, 2020 8:30:00 AM EAT

Johann Els said ( about Joseph Biden ) : “A weak dollar is great for emerging economy currencies – and thus for the rand,” “The Biden win thus strengthens my view of a strong rand exchange rate in the short term, despite weak local fundamentals. Thus, in the short term, the rand exchange rate will be determined by global factors more than by local issues” External link

iol Tuesday, November 10, 2020 9:51:00 AM EAT

Johann Els said ( about Donald Trump ) : “A Trump victory shouldn’t have an adverse effect on our local economy,” “A more positive global growth environment will be supportive for South Africa’s growth, but keeping South Africa out of a debt trap will need more significant policy reform and actual implementation of the government’s plans” External link

iol Thursday, November 5, 2020 8:04:00 AM EAT

Johann Els explains : “The risk we are facing as an economy is highlighted in the abandonment of the active scenario that was presented in June as the only way to avoid a debt trap,” “With the debt ratio expected to peak even higher (95% vs 87.4% in June) – and with clear upside risks – the fiscal cliff is getting ever closer” External link

dailymaverick Monday, November 2, 2020 8:36:00 PM EAT

Johann Els points out : “The February Budget proposed R160bn in wage bill cuts and the June Budget added R230bn in cuts in non-wage non-interest spending, thus a total of R390bn. But the MTBPS leaves total cuts now of only R306bn,” “This MTBPS reduced the proposed non-wage, non-interest spend to decline by only R68bn, which means that the bulk of proposed expenditure savings is set to come from Wage Bill savings, which will see a total of R238bn of savings – R160bn as announced in February of an additional R78bn. Government plans to freeze public sector wages for the next three years” External link

dailymaverick Monday, November 2, 2020 8:36:00 PM EAT

Johann Els said : “This is very conservative revenue budgeting, providing scope for revenue outperformance,” “There was also no mention of extra revenue streams such as the sale of spectrum or potential overshoot of mining taxes” External link

iol Thursday, October 29, 2020 10:01:00 AM EAT

Johann Els said : “We should definitely be expanding on it. It is the absolute wrong approach to try and stimulate the economy through either extra expenditure or reducing expenditure cutbacks,” “In summary, the speech was mostly as expected and lacked real reform measures. It lacked a true ‘whatever it takes’ approach needed to lift growth in the medium term to 2.5 percent plus on a sustainable basis” External link

iol Sunday, October 18, 2020 1:16:00 PM EAT

Johann Els warns : “We are undeniably facing our most crucial MTBPS in South Africa’s history, and while we have come to expect some level of slippage from the fiscal consolidation targets set in the past, there simply isn’t any room left for this in this year’s MTBPS,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els explained : “Our number one problem is a severe lack of growth, an issue that has persisted for the last several years,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “The National Development Plan provides an excellent set of policies – these should be implemented without delay,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “We also need a reduction in the cost of doing business and red tape; improved access to development finance for SMMEs, market-friendly changes to SA’s investment regulations, which would go some way towards encouraging private funding of vital infrastructure development; support for agriculture, tourism and similar high job creation sectors; attracting skilled immigrants to reduce the skills shortage and revamping the skills framework and a range of basic education reforms to improve outcomes for workers,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els concluded : “This is categorically the wrong way to go about it. Policy change should focus on confidence and growth-enhancing measures, but urgent implementation remains the most crucial issue for us,” External link

iol Thursday, October 15, 2020 2:16:00 PM EAT

Johann Els said : “The big game-changer in terms of lifting future growth prospects towards a higher level to at least 2percent annual growth should be a radical restructuring of state-owned enterprises,” “It’s nothing short of privatisation. In my mind, privatisation is doing whatever it takes to grow the economy. The probability of privatisation may be low, but these are dire and extraordinary circumstances” External link

iol Tuesday, October 13, 2020 11:05:00 AM EAT

Johann Els says : “I think this is the end of SAA and that is ok,” External link

theafricareport Friday, September 18, 2020 12:05:00 PM EAT

Johann Els says : “Bankrupt state-owned enterprises (SOEs) should be allowed to fail,” “I am therefore happy that the Treasury has not provided more funding to keep SAA afloat” External link

theafricareport Friday, September 18, 2020 12:05:00 PM EAT

Johann Els says : “The new Fed monetary policy stance will mean low US interest rates for much, much longer and that means emerging market interest rates can also stay lower for longer” External link

dailymaverick Wednesday, September 2, 2020 2:53:00 AM EAT

Johann Els said ( about Lesetja Kganyago ) : "So his [Kganyago] legacy was to go back to an era of positive real interest rates," External link

news24 Thursday, July 23, 2020 9:49:00 AM EAT

Johann Els said : "Apart from a reference in the speech that the State will be implementing policy changes highlighted in Treasury's 2019 policy document, no new policy measures to address growth were announced, which in my view was very disappointing," External link

irishsun Friday, June 26, 2020 12:05:00 AM EAT

Johann Els said : "Apart from a reference in the speech that the State will be implementing policy changes highlighted in Treasury’s 2019 policy document, no new policy measures to address growth were announced, which in my view was very disappointing," External link

news24 Thursday, June 25, 2020 11:07:00 PM EAT

Johann Els said : "The numbers won't be great, that we know," External link

news24 Wednesday, June 24, 2020 6:41:00 AM EAT

Johann Els said : "Stronger economic growth going forward is what everyone needs Everyone will benefit from stronger economic growth, it's just to get everyone to agree in terms of what path we will follow to get there," External link

news24 Friday, June 19, 2020 7:22:00 PM EAT

Johann Els said : “These are extraordinary circumstances, we require extraordinary measures,” External link

businessday Tuesday, June 9, 2020 8:18:00 AM EAT

Johann Els said : “In addition to hoping to see a more significant rate cut, the SARB should also have started quantitative easing as in the US by pre-announcing its size and duration,” External link

iol Friday, May 22, 2020 11:18:00 AM EAT

Johann Els said : “There are extraordinary circumstances, we require extraordinary measures,” External link

businessday Thursday, May 14, 2020 7:41:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

modernghana Wednesday, February 26, 2020 9:39:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

citizen Wednesday, February 26, 2020 7:37:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

modernghana Wednesday, February 26, 2020 7:13:00 PM EAT

Johann Els said : "We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us," External link

news-yahoo Wednesday, February 26, 2020 6:42:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

ibtimes Wednesday, February 26, 2020 6:24:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

afp-en Wednesday, February 26, 2020 5:52:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

ngrguardiannews Wednesday, February 26, 2020 4:18:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

guardian-ng Wednesday, February 26, 2020 3:38:00 PM EAT

Johann Els said : “We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

independent-UG Wednesday, February 26, 2020 2:47:00 PM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

theCitizen Wednesday, February 26, 2020 10:35:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

nation-ke Wednesday, February 26, 2020 9:47:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

ibtimes Wednesday, February 26, 2020 7:18:00 AM EAT

Johann Els said : "We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us," External link

news-yahoo Wednesday, February 26, 2020 7:16:00 AM EAT

Johann Els said : "We are on the verge of a Moody's rating downgrade, and if we don't stabilise the deficit and get spending under control, they will downgrade us," External link

afp-en Wednesday, February 26, 2020 6:32:00 AM EAT

Johann Els said : “While VAT was increased to 15% in February 2018 and was then left untouched last year, another VAT rate increase cannot be ruled out in the face of mounting pressure to address widening deficits and climbing debt-to-GDP ratio” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “Treasury has not been able to rein in the budget deficits over the last few years, so it is really now or never. We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “This will be difficult to pull off politically and would need to be negotiated with unions but potentially, it could be a big game-changer. Just limiting wage bill growth to 4% could save R100 billion. While the intention in the Budget must be on the spending side, I am doubtful that the Finance Minister will be able to do enough,” External link

foreignaffairs-nz Tuesday, February 25, 2020 1:25:00 PM EAT

Johann Els said : “While VAT was increased to 15% in February 2018 and was then left untouched last year, another VAT rate increase cannot be ruled out in the face of mounting pressure to address widening deficits and climbing debt-to-GDP ratio” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : “Treasury has not been able to rein in the budget deficits over the last few years, so it is really now or never. We are on the verge of a Moody’s rating downgrade, and if we don’t stabilise the deficit and get spending under control, they will downgrade us,” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : “This will be difficult to pull off politically and would need to be negotiated with unions but potentially, it could be a big game-changer. Just limiting wage bill growth to 4% could save R100 billion. While the intention in the Budget must be on the spending side, I am doubtful that the Finance Minister will be able to do enough,” External link

sanews Tuesday, February 25, 2020 1:05:00 PM EAT

Johann Els said : "We must first sort out our public finances and stabilize the debt ratio. We've got a budget deficit running at around 6 percent of the GDP and a debt ratio that was 26 percent in early 2000, now it's more than 60 percent and by Treasury's own forecast it is going towards 80 percent in a few years," External link

iol Sunday, February 16, 2020 10:09:00 AM EAT

Johann Els told : “Despite what we saw in the disappointing Medium-term Budget, expenditure cuts could still be on the cards, but they would have to be significant to make any kind of impact,” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : “Treasury’s options for getting the Budget and SA debt under control include printing money, which is highly unlikely; allowing higher inflation, which is also highly unlikely; raising taxes, which is difficult in the current environment; selling assets, which is unlikely on a large scale and will take time; selling of spectrum, which will have a small impact and will take time; and then cutting expenditure and lifting growth,” “Considering these options, cutting expenditure and lifting growth through structural policy adjustments remain Government’s most viable solutions” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : “Limiting growth in the Wage Bill is probably going to be easier that cutting jobs or freezing wage increases. This could lead to a lower budget deficit fairly quickly. Limiting growth to 4% per annum could mean cumulative savings of R104 billion and a deficit of -5.1%, compared to the Mini Budget target of -5.9%,” External link

citizen Friday, January 10, 2020 9:12:00 AM EAT

Johann Els said : "If the Eskom plan and MTBPS (budget) are received as acceptable and Moody’s keeps our rating outlook unchanged at stable, rand and bond relief rallies are likely," External link

4-traders Saturday, October 26, 2019 12:42:00 PM EAT

Johann Els said : “Despite delays, the ‘winds of change’ investment theme is still alive,” “The next five years are still expected to be better than the past five years but urgent reforms are crucial,” External link

businessday Wednesday, September 11, 2019 3:49:00 PM EAT

Johann Els said : “There's room for expenditure cuts that won't hurt growth,” External link

businessday Wednesday, September 11, 2019 3:49:00 PM EAT

Johann Els said : “The state-owned entities are a huge risk in terms of government finances,” External link

businessday Tuesday, June 25, 2019 9:35:00 PM EAT

Johann Els said : “I don’t think we are at a tipping point yet, but we are getting ever closer,” External link

businessday Tuesday, June 25, 2019 9:35:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

miningweekly Thursday, June 20, 2019 2:03:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

businessday Wednesday, June 19, 2019 7:12:00 PM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

miningweekly Wednesday, June 19, 2019 11:38:00 AM EAT

Johann Els said : "We have no option but to rescue Eskom," External link

irishsun Wednesday, June 19, 2019 11:33:00 AM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

news-yahoo Wednesday, June 19, 2019 11:22:00 AM EAT

Johann Els said : “We have no option but to rescue Eskom,” External link

news-yahoo Wednesday, June 19, 2019 7:19:00 AM EAT

Johann Els said : “After the first-quarter GDP, I have also revised my forecast to 0.9% growth for the year, but it does mean that in the second half we should expect, or we're at least hoping for, a rebound in growth — that's not impossible,” External link

businessday Thursday, June 6, 2019 4:47:00 PM EAT

Johann Els said : “There is a very strong correlation between consumers and businesses being confident about the future and strong economic growth, we saw that in the period of 2002 to 2008 when Thabo Mbeki was president, Trevor Manuel was minister of finance and Tito Mboweni was governor of the Reserve Bank,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said ( about Cyril Ramaphosa ) : “The average growth over the past four years has been 1%, which is dismal compared to the period 2002 to 2007 when we had about 5% GDP growth, so Ramaphosa will highlight economic growth and unemployment,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said : “Investors want to see stable economic policies before they commit to investing in the country and in this state of the nation address economic is even more important than ever because not only unemployment, the budget and the debt ratio all hang around economic growth,” External link

iol Wednesday, June 5, 2019 10:10:00 PM EAT

Johann Els said : “I'd say there's a 50-50 chance SA will see another technical recession this year,” External link

businessday Tuesday, May 21, 2019 3:02:00 PM EAT

Johann Els said : “Markets tend to look forward — and I thus think, despite short-term noise and volatility ahead of the elections, markets are slowly taking a view that confidence could improve after the elections,” External link

businessday Wednesday, April 10, 2019 10:58:00 PM EAT

Johann Els said : “A good ANC election outcome and policy reform would lead to a stronger rand , based on improved confidence, and it could quite likely reach R12 to the dollar in 2019, with increased rand stability over the next few years if growth picks up in the direction of 3 to 3.5 percent ,” External link

iol Monday, December 17, 2018 4:23:00 PM EAT

Johann Els said : “Consumer fundamentals aren’t currently that bad and are likely to improve as confidence improves, as well as being in line with a cyclical economic pickup. In addition, investment could rise sharply again leading to growth possibly reaching 3 to 3.5 percent by 2021/2022,” External link

iol Monday, December 17, 2018 4:23:00 PM EAT

Johann Els said : “While Treasury will likely try to mitigate the impact on the deficit somewhat by also reporting lower spending and utilising the contingency reserve, the budget deficit will probably be close to 4% of GDP versus the 3.1% deficit target envisaged at the time of the February 2017 budget speech,” External link

mg Thursday, October 26, 2017 1:10:00 AM EAT

Johann Els said : “We didn’t expect Fitch to downgrade us, but we expected an outlook change to negative,” External link

iol Thursday, June 9, 2016 5:47:00 AM EAT



Key Titles and Phrases Count Lang Last Seen
economist29.03%EN09/19/201619/09/2016
group economist12.90%EN09/19/201619/09/2016
senior economist58.06%EN09/14/201614/09/2016
Names Lang Count
Johann ElsEN94.12%
Johann ElsAF5.88%


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