EDITORIAL: SA’s task is to avert ‘prolonged economic stagnation’

At the start of each year the World Economic Forum publishes a rather earnest report which outlines the top risks the world faces and urges countries and companies to take action to mitigate these.

Those concerns about economy and society are even more profound in SA. The WEF’s executive opinion survey identified prolonged economic stagnation as SA’s top risk — a discouraging but hardly surprising result, especially in a week in which the World Bank revised its growth forecast for SA to just 4.6% for 2021, 2.1% in 2020 and 1.5% in 2022.

Even more salient for SA is the warning the WEF sounds about a “disorderly” climate transition, which could make inequalities worse. It’s a global risk. But it’s one that should be centre stage for SA, and deserving of greater focus and national debate.

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