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Number of the day, 17 April 2018

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The number of the day is 1.5%.
This is what the IMF has raised South Africa's growth forecast to this year.
It's good news in a sense because it's higher than the 0.9% that the IMF was expecting earlier.
But it's bad news because it's still lower than what the Reserve Bank and government and even credit rating agencies are expecting - which is around 2%.
1.5% is not much higher than the 1.3% recorded last year.
And - overall - it shows South Africa is still well below the curve - since global growth is expected to come in at 3.9% this year.
The IMF says there has been positive political change in recent months, but structural bottlenecks remain a concern.
It has also raised next year's forecast from 0.9% to 1.7%.
President Cyril Ramaphosa has appointed some heavy hitters to lead a drive to attract 100 billion dollars or R1.2 trillion in new investment to fix this….
Because right now the number of the day represents relative stagnation in economic growth.
And it's certainly not enough for much needed growth.
For more news, visit: sabcnews.com

Tags: News, Top Stories

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