Latest economic growth is not good enough - economist
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
Click on the link below to hear the full conversation....
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
This article first appeared on 702 : Latest economic growth is not good enough - economist
Former Springbok Bryan Habana about where he is at this point of his career.Read More
Skynamo is a Field Sales management and productivity app used by manufacturers, distributors and wholesalers.Read More
Only 54% of South Africans had a bank account in 2004, the goal is to make that 90% by 2030, where are we now.Read More
Government has two weeks to overhaul lockdown regulations they say were put in place to curb the spread of the coronavirus, or win an appeal.Read More
The Labour Department has sent inspectors to various workplaces to ensure that they are complying with Covid-19 safety measures.Read More
As South Africans look for ways to make extra cash, Gumtree South Africa has warned consumers not to fall prey to online fraudsters.Read More
Last year, the King got R66.7m from taxpayers. Clement Manyathela interviews the KZN Premier and the DA leader in the province.Read More
The campaign aims to ignite a sense of belonging and togetherness among Capetonians and it's a call for everyone to work together.Read More
Depressions do not spell the end for investors, says Dr Adrian Saville of Cannon Asset Managers.Read More
The Council for Medical Schemes has directed medical aids to view Covid-19 testing as a Prescribed Minimum Benefit.Read More