BUSI MAVUSO: We’re ready for another bold move, Mr President
The IMF’s medium-term forecasts have alarming implications for our unemployment situation
Many of our problems, particularly stalled reforms, are reflected in the gloomy medium-term forecast for SA from the International Monetary Fund (IMF). While our immediate recovery from last year’s Covid devastation is on track, we’re still lagging behind other emerging markets.
The IMF is now forecasting GDP growth of 5% this year for SA, off the base of a 6.4% contraction last year. That is up from its previous 4% forecast but well behind the expected 6.4% growth for all “emerging markets and developing economies”...