Sarb deputy warns on growth prospects

Cassim says economy is “remarkable for the wrong reasons”

Photo: Elske Photography

A deputy governor of the South African Reserve Bank (Sarb) warned the country is enduring the “lowest growth episode in recent South African history”.

Speaking to the Central Banking Spring Meetings in Cape Town today (March 14), Rashad Cassim blamed a “failure of basic infrastructure”.

Deputy governor Cassim said the economy would, by central bank estimates, grow only 0.3% this year and 0.7% next year. Because South Africa’s population grows faster than this, Cassim said this meant a

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