Growth drivers may be coming to the fore, but at current rates South Africans are getting poorer
25 September 2023 - 19:05
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I have always appreciated Roelof Botha’s insights and what seem like contrarian views (“Growth drivers coming to the fore”, September 21). I appreciate the way he offers insights that improve my understanding, and he is optimistic.
Some thoughts, though: real 0.3% GDP growth is negative real GDP growth per capita, which means SA citizens will on average be worse off.
How should expenditure on renewables be counted? Certainly it is capital formation, but it is arguably being offset by depreciation and capital destruction at Eskom if we are still undergoing load-shedding.
I wonder how many electricity-generating fuel (coal) exporting countries are importing as much electricity-generating fuel (diesel) as us? This speaks of the failure of Eskom.
Greg Becker Via BusinessLIVE
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: Harder realities in the face of optimism
Growth drivers may be coming to the fore, but at current rates South Africans are getting poorer
I have always appreciated Roelof Botha’s insights and what seem like contrarian views (“Growth drivers coming to the fore”, September 21). I appreciate the way he offers insights that improve my understanding, and he is optimistic.
Some thoughts, though: real 0.3% GDP growth is negative real GDP growth per capita, which means SA citizens will on average be worse off.
How should expenditure on renewables be counted? Certainly it is capital formation, but it is arguably being offset by depreciation and capital destruction at Eskom if we are still undergoing load-shedding.
I wonder how many electricity-generating fuel (coal) exporting countries are importing as much electricity-generating fuel (diesel) as us? This speaks of the failure of Eskom.
Greg Becker
Via BusinessLIVE
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
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