The Aftertaste of Debt is Gradually Turning Bitter

SOUTH AFRICA - Report 30 Mar 2015 by Iraj Abedian
The rising likelihood of an increase in US interest rates is inducing an economic policy headache in South Africa. In view of this, a backdrop would be handy before we carry on. The South African economy is performing well below potential. According to estimates from the International Monetary Fund (IMF), South Africa’s potential gross domestic product (GDP) growth fell from between 3.5 and 4 per cent during the early 2000s to between 2.25 and 2.5 per cent currently. Even so, the South African economy only managed to record 1.5 per cent economic growth in 2014. Domestic demand, in the guise...

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