ANNA COX A GROWTH rate of 4% and beyond is achievable for the South African economy in the years ahead. So said Minister of Finance, Trevor Manuel, addressing the Italian South African Chamber of Trade and Industry which recently celebrated its 20th anniversary. In the decade prior to 1994, economic growth averaged less than 1% a year. Since then it has averaged almost 3% a year. “We have just entered the 24th quarter of continuous positive growth. “This marks the longest structural expansionary phase in the history of the South African economy,” he said. "If we are to break cycles of dependency in developing countries, genuine market access must be on the cards. Not for the products that are convenient to the powerful, but for the products that matter for the powerless. Subsidies that exceed the GDP of most developing countries taken together, simply have to be reconsidered," said Manuel.
