Economist Presentation
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Given by Kevin Lings, Chief Economist, Stanlib
South Africa faces a number of immediate as well as longer-term structural impediments to growth. Some of these challenges are reflected in persistent high income and wealth inequality, others are reflected in service-delivery protests and demands for free tertiary education or the steady rise in the number of social grant recipients, which is rapidly approaching 18 million people.
There is an urgent need for South Africa to find a way to lift the level of economic growth meaningfully, but in a manner that leads to sustained job creation. Without widespread and sustained job creation the authorities will find it increasingly difficult to address the frustrations of the population, thereby raising the risk of increased social and political protest that would further undermine consumer and business confidence.
At the same time developed markets are being negatively impacted by an aging population, which is undermining the rate of growth, while many emerging economies, including South Africa, are struggling to unlock their demographics dividend. What does all of this suggest about South Africa’s future economic prospects?
Here to give us the answers is Kevin Lings, Chief Economist of Stanlib.
South Africa faces a number of immediate as well as longer-term structural impediments to growth. Some of these challenges are reflected in persistent high income and wealth inequality, others are reflected in service-delivery protests and demands for free tertiary education or the steady rise in the number of social grant recipients, which is rapidly approaching 18 million people.
There is an urgent need for South Africa to find a way to lift the level of economic growth meaningfully, but in a manner that leads to sustained job creation. Without widespread and sustained job creation the authorities will find it increasingly difficult to address the frustrations of the population, thereby raising the risk of increased social and political protest that would further undermine consumer and business confidence.
At the same time developed markets are being negatively impacted by an aging population, which is undermining the rate of growth, while many emerging economies, including South Africa, are struggling to unlock their demographics dividend. What does all of this suggest about South Africa’s future economic prospects?
Here to give us the answers is Kevin Lings, Chief Economist of Stanlib.