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SA business confidence hits lowest ebb in over 20 years

12 September 2019 9:40 AM
Tags:
Sacci
Business Confidence
business confidence index
2019 economy
Centre of Economic Development & Transformation founding director Duma Gqubule says the economy is in a desperate situation.

The SA Chamber of Commerce and Industry index has dropped to 89.1 in August from 92.0 the previous month and was the lowest it has been so far in 2019.

This is the lowest level since April 1985, the year the United Nations Security Council called on members to introduce more far-reaching economic measures against South Africa.

Bongani Bingwa speaks to Centre of Economic Development & Transformation Founding Director Duma Gqubule.

Our economy is in a desperate situation. In this situation, we can't use conversational economic policy tools only.

Duma Gqubule, Founding Director - Centre of Economic Development & Transformation

Gqubule has the following suggestions:

We have to press the reset button. We have to look at our whole national balance sheet and see how we can restructure this balance sheet to release some kind of stimulus into this economy.

Duma Gqubule, Founding Director - Centre of Economic Development & Transformation

There is nothing else except for some kind monetary and fiscal stimulus that we can put into this.

Duma Gqubule, Founding Director - Centre of Economic Development & Transformation

Listen to the full interview below...


This article first appeared on 702 : SA business confidence hits lowest ebb in over 20 years


12 September 2019 9:40 AM
Tags:
Sacci
Business Confidence
business confidence index
2019 economy

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