NTHABISENG MOLEKO: Tackling economic exclusion must be the new government’s priority
Macroeconomic indices reveal that widening income inequality is at 0.65, the worst in the world
Since 1994, the South African government has employed market-friendly policies in an investment-led growth strategy. Yet South Africa has averaged 1.2% GDP per capita growth over the last three decades, faring particularly poorly in the last decade by contracting 0.25% in per capita GDP growth. Despite concerted efforts made at investment summits and policy imperatives to crowd in investment, we are unable to move the needle.
The South African Reserve Bank recorded foreign direct investment net inflows of R96.5bn in 2023, an estimated 1.3% of GDP. A considerable 36% decline from the R151bn reported in 2022 at 2.3% of GDP, revealing that capital inflows remain inconsequential to drive up growth...
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