Why South Africa must build to grow
Economies that have invested heavily in infrastructure have experienced far stronger growth rates than those that haven’t
20 March 2025 - 05:00
Within minutes of starting his revised budget speech last week, finance minister Enoch Godongwana acknowledged the crucial issue facing the South African government: “As much as the debate on the budget has been dominated by the proposed increase in VAT, the bigger debate must be about how we grow the economy and increase tax revenue over time.”
After years of battling to curb growth in spending, and raising taxes to avoid a debt crisis, South Africa has now reached a point where the only sustainable path forward is breaking the economy out of its low-growth trajectory...
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