A WEE DRAM
CHRIS GILMOUR: Optimism that new confidence can help to boost growth
With the country ploughing through huge upheaval, it is insightful to take note of what two of our foremost market commentators are saying. Colin Coleman of Goldman Sachs and Kevin Lings of Stanlib are optimistic that the new political dispensation will result in improved confidence that in turn should help boost economic growth. Goldman Sachs is forecasting 2.3% growth for 2018. Stanlib is a little more cautious and looking at 1.9% to 2%. Delivering the keynote address at an S&P Dow Jones Indices conference, Coleman set the scene with a comment that "for SA to grow at anything less than population growth is a disaster". He followed this with a hard-hitting rebuke of the Zuma regime’s ruinous policies, then changed the mood with a much more expectant view of the future under Cyril Ramaphosa. A fortnight of momentous events in SA will be replaced by relative calm under the new political leadership, albeit one that faces immense challenges.
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