SA has a growth problem. The latest example was encapsulated in this week’s third-quarter GDP figures: the economy contracted 0.6% from the previous quarter and 0.1% year on year.
The growth problem points to the real possibility of a ratings downgrade, possibly as early as March, by Moody’s Investors Service, the only agency that has us holding on — by a single thread — to investment grade. It will be a Herculean task for the government to convince the ratings agencies and bondholders, among others, of its determination to change given that we are a mere two months away from the budget. But they and we shouldn’t think it impossible.
hat growth problem could be resolved by fully realising the growth potential of the private sector, especially small, medium, and micro enterprises , through the removal of pervasive red tape. This will count in SA’s favour on ease-of-doing business scorecards, but for optimal efficiency to be realised structural drawbacks such as uncertainty from energy security must be resolved. The issue of spectrum has held the country back from fully benefiting from the fourth Industrial Revolution.
They won't... Things are great as is for them
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