Without fresh thinking, South Africa will remain a low-growth environment, unable to defeat unemployment and poverty.
Ratings agency Fitch said South Africa’s economy was likely to grow by 0.9% this year, 1.5% in 2025, and 1.3% in 2026. This is in line with most other forecasts, but it is barely higher than SA’s population growth rate, meaning that unemployment and poverty will continue to worsen.
South Africa needs to achieve annual economic growth rates of 5% or more for the country to start making a real dent in the twin evils of poverty and unemployment. It is clear that the country cannot continue as it has been doing over the past decade. We need to think about new ways of doing things.
- Read the full column here: "New ideas needed to spark economy."
