If there were any doubts that the SA Reserve Bank’s monetary policy committee must fall, last week’s feeble response to the country’s worst economic depression in more than a century has provided proof that it is not fit for purpose.

According to Business for SA’s Martin Kingston, the economy could contract by up to 15% in 2020 after taking into account the effect of the government’s R500bn stimulus package. By definition, this means the package is not adequate.

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 exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

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