Government urged to move faster on improving growth prospects

The Minerals Council South Africa believes that the 1.4% 4th quarter year-on-year decline in GDP highlights the desperate need for the urgent implementation of the range of structural reforms and confidence boosting measures outlined in last week’s Budget speech and in the Treasury Economic Strategy paper.


Not only was production in many sectors negatively affected by the electricity supply crisis, but weak business and investor confidence has resulted in gross investment being a low 17.9% of GDP, which is simply not high enough to push a higher economic growth rate.


Source: BEE Chamber.



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