Factors behind weak growth in advanced economies do not apply to South Africa – Sarb deputy
Some of the explanations most commonly suggested to explain weak growth in advanced economies do not seem to apply to South Africa, the deputy governor of the South African Reserve Bank has said.
Speaking at an investor conference in Cape Town today (September 27), Daniel Mminele said there was "no evidence" the 2008/09 recession had ushered in a high propensity among households to save a larger share of income.
"Over the past five years, the household saving ratio has stood, on average, at a
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