Tito Mboweni detects early signs of economic recovery
The minister said growth in private-sector credit extension increased year-on-year in July from June, but much of this borrowing is going to SOEs
There are very early signs that SA’s economy is improving and that bank lending is strengthening, finance minister Tito Mboweni said on Friday. But he was quick to add a strong note of caution to his remarks.
“One swallow does not make a spring, but there are some hints that things are gradually getting better ... There are some signs that investment spending is slowly improving,” the minister said at the Banking Association SA (Basa) conference...