If there is an economic consensus among private sector economists, it’s that President Cyril Ramaphosa must make concrete progress in excising state corruption and implementing pro-growth reforms to keep fuelling business and investor confidence. The big question is whether Ramaphosa is going to be forced to compromise on policy reform to the same extent that he was forced to compromise on his cabinet. If that happens, the economy will not take off. And it must take off if SA is to start making inroads on unemployment, poverty and inequality. With a population growth rate of just under 1.7% and extensive youth unemployment muddling along with low or stagnant growth of 2% or less, the average person’s quality of life will barely improve. Social and fiscal pressures will mount. There are significant dangers in this. It is an environment that breeds populism and destroys confidence, and this is something SA must avoid at all costs. The good news is that in the short term there is every...
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