Maybe this straight-talking indaba between business and the president can galvanise the government

12 January 2020 - 00:02 By SIPHO PITYANA

South Africa is facing an unprecedented economic crisis — the longest economic downswing since 1945. We had an average economic growth rate of 1.5% over the past decade, compared to more than 4% in other emerging economies. Government debt ballooned from 26% of GDP in 2008 to 56% in 2019.

Alongside this, unemployment has risen to almost 30% (there are now 10-million people unemployed), and we are sitting on a powder keg of unemployed youth with little or no future. As if this is not enough, we are also facing a real prospect of a sovereign rating downgrade that could exacerbate these conditions...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.