Rand likely to weaken further: SAIRR
The SA Institute of Race Relations has warned South Africa is likely to enter a long-term period of low economic growth.
The Institute recently released a report featuring long-term trends for major economic indicators together with forecasts of GDP growth, per capita GDP, inflation, interest rates, the rand, and household disposable income levels up to 2019.
Spokesperson, Mienke Steytler says some of the key findings were that GDP growth levels were likely to average below 2% up until 2019 and that the rand will weaken further, going up to R17 to the US dollar, possibly even up to R20 according to some analysts.
Steytler says the Institute is suggesting that government look at the broader policy field.
''The seige for government is really hemming in any potential avenue for economic expansion in South Africa and that is why the IRR is calling for the return of the growth, employment and redistribution policy that was built in 1996.
''The liberal conservative that the ANC adopted around then and it's really had a positive impact on South Africa's economic growth. So we're saying that needs to come back,'' she said.
(File photo: Getty Images)