South Africa’s Debt too High to Weather Global Crisis – Cenbank

Kuben Naidoo

South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said.

Deputy governor Kuben Naidoo said on Wednesday in Cape Town that it would take at least a decade to bring the debt-to-GDP ratio down to the 30 to 40 per cent range.

Naidoo also said that growth in Africa’s most industrialised economy was seen hovering around the 2 per cent over the next few years.

March 13, 2019