EDITORIAL: Our economy needs rapid reforms not glacial change
About the best that can be said for the latest official data on the state of the SA economy is that it has avoided recession. That is better-than-expected news. But it does not make it good.
The national economy grew by 0.4% in the first quarter, Stats SA reports. The number was slightly ahead of market forecasts. But this is the quarterly figure, comparing the first quarter to the negative fourth quarter of last year. The more useful number is this year’s first quarter compared with last year’s, which gives a sense of how we might come out for the full year. On that basis the latest growth number is just 0.1%. ..
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