SA has six months to a year to fix its political problems, says Investec Asset Management director Jeremy Gardiner. The world was enjoying GDP growth across all major markets and growth in the US, Japan and Europe was benefiting emerging markets — but political interference weakened these benefits for SA, Gardiner said. "SA is in trouble, but it has time to fix various problems while global growth comes under pressure," he said at the 21st annual congress of the South African Council of Shopping Centres in Cape Town. "The UK was the most desirable developed market for investment two years ago, now it is the worst developed market, however, it is still growing. But Europe has managed a soft landing and China has improved its position and growth is around 6% and 7%," said Gardiner. Only 9% of SA’s debt is foreign-denominated and 91% is local. The sovereign ratings agencies will probably comment two days after the ANC leadership conference in December, according to Gardiner. Food price...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.