Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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Our growth rate during 2016 was very poor – coming in at 0,3%. That, compared to Australia at 2,8% and the USA at 1,6%. Remember, it has been estimated if we want to sort out the employment problems in South Africa, we would need to have a growth rate of approximately 5% a year so 0.3% isn’t going to keep pace with our high birth rate and unemployment.
The World Bank recently halved its forecast for 2017 for South Africa. They say that our growth for the year will probably be about 0,6%, despite the forecast optimistically given out in February of 1,3%. What was quite interesting, and it is some point I have made before in my blog, was that the World Bank warned that any prospects of recovery in South Africa would remain fragile unless South Africa succeeds in becoming “more productive”. We are not a particularly productive country, and while the rest of the world has benefited from an economic rebound, South Africa has not, despite the fact that the weakening of the Rand should have made it easier for our exports to break into new markets around the world. I wonder who the ANC will blame for our lack of productivity and our slow growth rate?
Posted by Michael de Broglio on Wednesday 11-Oct-17
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Comments
Cornelie said:
on Thursday 02-Nov-17 09:18 AM
Maybe if we get better leaders the growth will pick up and not worry so much about corrupation.
Tersia said:
on Wednesday 01-Nov-17 07:45 AM
That is terrible! It all comes down to the way the country is being run! Before it can get better, things will probably get much worse. Not looking forward to those days.
Prishani said:
on Friday 27-Oct-17 08:45 AM
This is something that needs to be taken seriously by our country, hopefully we can put some plans into action before the affects take even longer to reverse.
brumilde said:
on Friday 27-Oct-17 08:07 AM
Until we get a restructure of our government, SA will not show much in growth. I am sure other countries look at us like Zimbabwe. We are to big of a risk to invest in. as the growth is slow.
Liesl said:
on Wednesday 18-Oct-17 08:50 AM
While the country is being managed the way it is, it's not going to get better in the "season" we are in but I do believe that there is always hope and choose to believe that SA will stand tall again
Jessica Apfel said:
on Tuesday 17-Oct-17 04:19 PM
December will be very interesting - with the election of a new ANC leader looming, who knows what affect it will have on the SA economy? According to new data released by Stats SA, poverty is on the rise in South Africa - a somewhat gloomy outlook on any growth prospects.
Jadine Richards said:
on Monday 16-Oct-17 03:28 PM
No shock there! In my opinion, S.A. is such an unproductive country because of bad leadership and management. At most levels of government there is bad leadership. It has to come from the top for there to be any significant change in productivity. Not many workers, especially those in the public sector, are inspired or motivated to achieve anything not even their own job responsibilities because there are no consequences for being unproductive. Furthermore, lazy employees cannot simply be fired which creates the situation of people retaining positions where they aren't achieving much and of employers being super cautious in hiring.
Ashleigh said:
on Monday 16-Oct-17 08:02 AM
This isn't surprising. Nothing is a surprise anymore with the government that is running this country now.
Nicky said:
on Friday 13-Oct-17 04:50 PM
The government is definitely to balme-of course they wont take any responsibility for this.Isnt this the same government that promised a better life for all and more jobs at election time??
Bianca R said:
on Friday 13-Oct-17 08:45 AM
That kind of growth is honestly sad, at that rate, unemployment will remain a reality and the number of unemployed people, will just be increasing. I wonder whether our government could possibly take a chance of being productive and acting in the best interest of the citizens.... It is the onus of the government to create job opportunities and increase growth prospects of the country but I really do not believe that it high on their list of priorities, even a growth of 1% would be drastic improvement!
Jessica M said:
on Friday 13-Oct-17 08:33 AM
Damn if I had to work any harder I think I would work myself to death. The problem is people are having babies all the time but they can't afford to keep them alive. It actually annoys me, bringing up children in poverty and being selfish.
Sarah said:
on Friday 13-Oct-17 08:12 AM
Only is South Africa will no one take the blame or responsibility for us going downhill, looks like things are getting worse. We need a new government.
Mathilda said:
on Thursday 12-Oct-17 02:24 PM
Well this is nooo surprise?
South Africa is in a downwards spiral and the people in charge is not actually doing anything about it
I do not see a bright future for SA
Michelle said:
on Thursday 12-Oct-17 01:52 PM
South Africa can’t really compare to other countries just because of so many reasons. But I truly think we are probably the country with the highest unemployment rate at the moment. For example you will never see beggars or car guards overseas
Daniella said:
on Thursday 12-Oct-17 10:58 AM
Seems like we on the downhill. it would be interesting to see who they will blame this time.
Daniella said:
on Thursday 12-Oct-17 10:58 AM
Seems like we on the downhill. it would be interesting to see who they will blame this time.
Angelique P said:
on Thursday 12-Oct-17 10:56 AM
These days it's very important to think about your children's future and not just making babies. I don't think that the unemployment rate will improve much and that leads to more people sitting without jobs in the future.
Melissa van Tellingen said:
on Thursday 12-Oct-17 10:55 AM
Doesn't look good for SA. I agree with Jadine. No one will take the blame and it will be shifted from one to the other.
Joyce said:
on Wednesday 11-Oct-17 05:08 PM
It sounds like growth rate is struggling in South Africa
Angelique Jurgens said:
on Wednesday 11-Oct-17 04:55 PM
There is nothing and no one left to blame so will be interesting.... I'll wait... while we continue to pay taxes in vain :)
Suzanne said:
on Wednesday 11-Oct-17 08:38 AM
This is not a good number and it doesn't look as though it will be getting much better. As Jadine said, the blame will definitely be shifted around.
Celeste said:
on Wednesday 11-Oct-17 08:26 AM
My opinion is its our own fault the growth rate is poor and if we all contributed we would make a difference. a real difference.
Celeste said:
on Wednesday 11-Oct-17 08:26 AM
My opinion is its our own fault the growth rate is poor and if we all contributed we would make a difference. a real difference.
Alexis said:
on Wednesday 11-Oct-17 08:26 AM
I agree with David there. It is a pity that we cannot just make more of an effort to do something productive...but I suppose it will be money out of the pockets of the corruption, and too much effort
patrick said:
on Wednesday 11-Oct-17 08:21 AM
they have themselves to blame. while they should be spending their time thinking how to create growth, they spent time thinking how best to destroy the company.
Jadine E said:
on Wednesday 11-Oct-17 07:15 AM
When it come to the country's growth and who is responsible for such the blame will always be shifted.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
