The CEO of one of the country’s largest corporate and investment banks has warned that the path the country is on could lead to an economic quagmire unless new ways to revive growth and manage spiralling public debt are tackled.

"There is a real risk that reductions in consumer spending mean we could see an L-shaped recovery characterised by the economy flatlining at a lower economic output, which would be a terrible outcome for SA and the region," says Rand Merchant Bank CEO James Formby.

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