SOUTH AFRICA’S DEBT TRAJECTORY TOO HIGH, NO BUFFERS FOR GLOBAL CRISIS: CENTRAL BANK

SOUTH AFRICA’S DEBT TRAJECTORY TOO HIGH, NO BUFFERS FOR GLOBAL CRISIS: CENTRAL BANK

CAPE TOWN (Reuters) – South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said, adding it would take at least a decade to bring the debt-to-GDP ratio down to the 30 to 40 percent range.

Deputy governor Kuben Naidoo also said on Wednesday that growth in Africa’s most industrialized economy was seen hovering around the 2 percent over the next few years.

Reporting by Wendell Roelf; Editing by Catherine Evans

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Nigerians in South Africa
Nigerians in South Africa 8193 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

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