OECD survey predicts ‘timid’ 0.6% growth for SA
Low growth and high unemployment are weighing down social progress and ‘bold structural reforms’ are needed
A "timid" rebound of 0.6% in SA’s growth this year is projected by the Organisation for Economic Co-operation and Development (OECD) as investment and exports recover moderately with the improving international economy The OECD notes in its 2017 Economic Survey of SA that low growth and high unemployment are weighing down social progress and "bold structural reforms" are needed to unlock the economy. Growth has been disappointing over the past few years, with weak consumer demand, falling business investment, policy uncertainty and drought damping activity. "Reviving economic growth is crucial to increase wellbeing, job creation and inclusivity," the survey emphasised. "As there is limited room for monetary and fiscal stimulus, bold structural reforms, supported by social partners, are needed to unlock the economy."
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