‘SA knows how to grow the economy‚ but it can’t sustain that growth’

09 September 2016 - 16:40 By Kingdom Mabuza

South Africa has to concentrate on manufacturing and agriculture if it is to grow the economy‚ the National Economic Development and Labour Council (Nedlac) summit in Boksburg heard on Friday. This is the view of Professor Jose Palma‚ a senior lecturer in the faculty of economics at the University of Cambridge.He said the problem was that Africa‚ like Latin America‚ knows how to grow the economy but did not know how to sustain that growth."If you look at South Africa‚ in your case in agriculture you are falling behind. What is letting you down is two things‚ agriculture and manufacturing‚" he said.Palma said the inability to consistently maintain growth meant Africa could not create the much needed jobs and was low in productivity.He said South Korea and Chile were making progress in agriculture and were able to sustain that growth‚ but Chile was falling back on manufacturing.- TMG Digital..

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