We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Stats SA recently announced that the official unemployment rate had increased by 0.3 of a percentage point to 27.5%. The expanded unemployment rate also rose to 37.3% from 37.2% in the previous quarter. While these developments are disturbing, in many ways they are to be expected from a highly concentrated, capital- and resource-based economy that has struggled to bring about fundamental socioeconomic change for the majority of South Africans. It is within this context that we must consider recent comments by SA Reserve Bank governor Lesetja Kganyago and others who have decried so-called “populist” solutions to resolve the current crisis. In this view, we should reject “emotive” calls for change and recommit to the well-worn path of inflation targeting, “fiscal discipline” and a free-market economy. A similar perspective was echoed by Khaya Sithole who argued that the call for the Reserve Bank to abandon inflation targeting, “betrays a lack of appreciation of the fundamentals of eco...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now