Iran Conflict Clouds South Africa Economy Outlook, SARB Says

The Iran war has clouded the outlook for a South African economy that had entered its longest period of economic expansion since 2018, the country’s central bank said.

“The buoyant performance of global and domestic financial markets over the past year was abruptly interrupted following the outbreak of the war,” the South African Reserve Bank said in its quarterly bulletin on Tuesday. The subsequent rise in oil prices “is expected to exert significant upside pressure on domestic fuel prices in the coming months.”