Debt is not a replacement for domestic revenue mobilisation, says South African Reserve Bank Governor Lesetja Kganyago. He was delivering his opening address at the African Economic Research Consortium’s 50th bi-annual plenary underway in Cape Town.
The South African Reserve Bank is forecasting another contraction in GDP in the first quarter of this year largely due to electricity supply constraints and a strike in the gold mining sector.
Three important data due out this week is expected to shine the spotlight on the current state of the economy.
Analysts expect the South Africa Reserve bank to keep rates unchanged when it makes its decision on interest rates later this week.
Chairperson of the African National Congress (ANC)’s Economic Transformation Sub-committee, Enoch Godongwana, says the party is not proposing to change the mandate of the South African Reserve Bank (SARB).