ANNABEL BISHOP: Competition really does matter for economic growth
SA’s WEF global competitive ranking fell over the past decade, reflecting weakened fundamentals
30 June 2022 - 18:46
The slide in SA’s economic growth over the past decade and rise in unemployment, interrupted and worsened by Covid-19, has raised concern about the country’s ability to turn around its economic performance, particularly given the lack of sufficient competitive reforms.
The statistics are well known, including SA’s recent rise in unemployment to about 35% and falling economic growth trend from above 5% year on year by 2007 to 0.2% by 2019 (temporarily interrupted by, but not caused by the 2008-2009 global financial crisis)...
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