State must revitalise manufacturing to ensure growth, says ISS
The volatile sector is expected to make a significant dent in economic growth in the first quarter
SA’s potential for growth hinges on the government revitalising the manufacturing sector, according to a report from the Institute for Security Studies. The sector has largely been volatile and after low production levels in the first three months of the year it is expected to make a significant dent in economic growth in the first quarter. Growth in SA has remained paltry in recent years, hovering around 1%, and is not expected to breach the 2% mark in the medium term. "Without an increase in manufacturing, you can’t grow the rest of the economy," the institute’s Jakkie Cilliers said at the launch of the report on Tuesday. In a developing economy with persistently low growth, this depends on the government’s support to foster economic growth and formulate and implement policy, he said. President Cyril Ramaphosa’s "focus is exactly right. We need to place employment at the heart of everything." Ramaphosa has targeted industrialisation, manufacturing and infrastructure investments as...
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