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Kganyago urges South Africa to gamble on economic growth
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Moneyweb
South Africa must take uncomfortable risks to accelerate economic growth and achieve fiscal sustainability, central bank Governor Lesetja Kganyago said.
“South Africans love to gamble, but when it comes to growth, it turns out we are risk-shy,” Kganyago told a public lecture at the University of South Africa in the capital, Pretoria, on Tuesday.
Read:Ramaphosa taps former treasury budget chief as economic advisorFor more than a decade South Africa has grown at less than 1% a year on average, hamstrung by graft, crime and snarl ups in sectors including energy, water and logistics.
“You don’t need ‘growth with adjectives’, where growth is only worth doing if it’s the right kind of growth.
Read:‘Don’t say we didn’t tell you’ about South Africa – Trevor NoahTo break from stagnant growth, South Africa needs “to accept that growth means trying things that are risky,” the governor said.