From the moment he became president, Cyril Ramaphosa has been wanting to confer with leading economists on how to get growth going. But when he finally convened a series of three economic discussions starting late last year — each taking place behind closed doors, away from the scrutiny of the press — the message he received was apparently dire. After years of kicking the can down the road, it seems SA has finally run out of road. Harvard economics professor Robert Lawrence told the assembled ministers and officials that SA is in "serious trouble". The country is caught in a low-growth trap, skirting close to a downgrade, and in danger of suffering a sudden stop in capital inflows and a run on the currency. Alarmingly, the government doesn’t have a cogent plan to revive growth. SA’s 500-page long-term vision, the National Development Plan, was barely mentioned during the discussions, Ramaphosa having made it clear that he was looking for immediate steps that could kick-start growth ...

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, Morningstar 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.