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Latest economic growth is not good enough - economist

3 September 2019 7:26 PM
Tags:
South African economy
SA economy growth
SA's economy grew 3.1% in the second quarter avoiding a technical recession.

South Africa has avoided a recession as the economy grew by 3.1% in the second quarter of 2019.

Data released by Statistics SA shows mining, finance, trade and government services were the main drivers of the growth.

Citi Bank economist Gina Schoeman details exactly what has been avoided but says the latest growth is not good enough.

What we avoided was a further dent to confidence because the economy has already gone further down this year so in some ways we avoided that but this is certainly just a relief not a victory.

Gina Schoeman, Economist - Citi Bank

We don't have sufficient growth for the population growth of this country...if you look around what is going on in the social society of South Africa, we are not hard pressed to understand why so it's just plain not good enough.

Gina Schoeman, Economist - Citi Bank

We have got to deregulate this economy in many types of ways. You have got to invite the private sector in, I am not saying privatise everything but you have got to get a better relationship between government and the private sector. Small things like that will remove so much of the uncertainty..

Gina Schoeman, Economist - Citi Bank

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This article first appeared on 702 : Latest economic growth is not good enough - economist


3 September 2019 7:26 PM
Tags:
South African economy
SA economy growth

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