Economy ‘victim of political fighting’

2020 World Economic Forum in Davos
JOHANNESBURG – The UN said that political interference and policy uncertainty in South Africa were at the centre of the country’s economic woes and rising unemployment figures.

The UN said during the release of its World Economic Situation and Prospects 2020 report yesterday in Johannesburg that growth in South Africa was now estimated at 0.5 percent for 2019, remaining well below potential amid weak investment, energy shortages and high unemployment.

Managing director of research at Plus Economics, Dr Kirsten Thompson, said the country needs to revive growth on the supply side, because the demand side remains subdued.

“The South African economy has become a victim of political fighting, and if we can just sort that out , our economy can find the space it needs to grow,” Thompson said.

“It is not up to the government to create jobs, it is up to the government to be a facilitator, protector and enabler of our business environment.

Source: iol.co.za