JUST as we were feeling encouraged that economic growth this year would no longer be hugging the 0% level, the IMF has come along with a rude reminder that the economy is by no means on the up as yet.Better-than-expected second-quarter growth figures had prompted the Reserve Bank to raise its forecast for this year from 0% to 0.4% and the World Bank to revise its forecast to the same number, although this is half its prediction of six months ago.But the IMF is still not convinced enough is happening to lift the growth rate, and has opted to stay with its 0.1% forecast for this year, warning that the outlook for SA is "clouded by policy uncertainty and political risks".As we have said previously, quibbling about which level of zero growth we’re at is hardly comforting, especially given that SA’s population is growing at an estimated 1.7% a year, which means at these levels, we are going rapidly backwards as a country.More disturbing is that the IMF has cut its forecast for next year ...
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