SA needs a bold, new trajectory to solve growth crisis
Old-style austerity alone won’t kick-start the economy; what’s needed now is a package of pro-growth measures to change the cycle from vicious to virtuous
As SA approaches its own social, political and economic crossroads, partly induced by the pandemic, it needs to urgently reach consensus that it should take the fork in the road to inclusive and dynamic growth, and place the nation onto a virtuous cycle, a sustainable pathway that truly delivers “a better life for all”.
As laid out in the article (https://www.timeslive.co.za/sunday-times/opinion-and-analysis/2021-10-03-sa-doesnt-have-a-debt-problem-it-has-a-growth-problem-and-a-solution/), SA has, for the past decade, been locked in a low-growth trap, with falling per capita income, rising inequality and rocketing unemployment. SA is in a “crisis of growth”, sitting on a ticking unemployment time bomb...