Competitiveness index shows SA is still drifting
Drags include SA’s deteriorating education standards, rising state debt, inefficient SOEs and persistently high unemployment
SA’s global competitiveness continued to falter despite surprisingly strong growth in 2017 and a presidential shake-up that led to Cyril Ramaphosa taking over at the helm. The chief economist and head of operations at the IMD World Competitiveness Centre, Christos Cabolis, said the effects of these developments would only be felt in the long term. Out of 63 countries ranked, SA stood at 53, having hovered between 52 and 54 over a number of years. SA was stable, the IMD said. It cited progress in the institutional framework driven by exchange rate stability, a minor reduction in crime and some measures on gender disparity that had contributed to a slight increase in government efficiency. “Positive GDP growth and an improving current account deficit suggest that SA may be moving out of its transition period, while the continued broad range of export partners supports stability,” the IMD said. Cabolis, however, said that SA had to tackle deteriorating education standards, the limited ...
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