http://business.iafrica.com/news/882526.html
Tue, 08 Oct 2013 7:10 AM
Article By: Jean-Jacques Cornish, EWN
South Africa’s sluggish economic growth is dragging down the average for the rest of the continent, the World Bank said on Monday.
World Bank lead economist for Africa Punam Chuhan-Pole says South Africa is tied to faltering European economies and is losing potential foreign investors because of stormy labour relations.
But its biannual report on the continent, Africa Pulse, remains upbeat.
It predicts growth of 4.9 percent this year for the continent with better than five percent expected next year.
Chuhan-Pole says it could be even better, saying: "If we exclude South Africa, where growth has been disappointingly low, the region is actually growing at closer to six percent."
The economist says there is a need for structural reform in the South African economy to make it more attractive to foreign investors.
Tue, 08 Oct 2013 7:10 AM
Article By: Jean-Jacques Cornish, EWN
South Africa’s sluggish economic growth is dragging down the average for the rest of the continent, the World Bank said on Monday.
World Bank lead economist for Africa Punam Chuhan-Pole says South Africa is tied to faltering European economies and is losing potential foreign investors because of stormy labour relations.
But its biannual report on the continent, Africa Pulse, remains upbeat.
It predicts growth of 4.9 percent this year for the continent with better than five percent expected next year.
Chuhan-Pole says it could be even better, saying: "If we exclude South Africa, where growth has been disappointingly low, the region is actually growing at closer to six percent."
The economist says there is a need for structural reform in the South African economy to make it more attractive to foreign investors.
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