South Africa's economic recovery 'on track': Kganyago
Reserve Bank Governor Lesetja Kganyago believes the South Africa’s economic recovery remains on track.
This despite the economic havoc wrought by the Covid-19 pandemic and various lockdowns.
He says the country has put in place adequate measures to reduce the impact of the pandemic on the economy.
He says the central bank did the same.
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In an effort to ease the pressure on consumers and businesses, Kganyago says they cut the repo rate by 275 points between March and July last year.
"The economic recovery is still on track but there will be pitfalls along the way, as illustrated by our shift back to level 4 lockdown.
"There is no question that our recovery will progress and our sound policy framework will continue to allow flexible approaches whilst building confidence."
