Chief economist at Stanlib and well-known name in economic circles Kevin Lings recently shared his knowledge about South Africa’s economy with a group of members from the Rotary Club of Krugersdorp.
Lings was the guest speaker at a business lunch at the club where he explained the stance of the national economy in simple terms to benefit Krugersdorp business owners.
He elaborated on what he calls the four major areas that the country needed to excel in since 1994 and said the country performs well in most.
Areas of concern among economists according to him include the uneven distribution of wealth, jobs and opportunities.
Some shocking figures included the amount of citizens that register and pay for tax, the number of jobs created in the past year and the average amount of children that start school at the beginning of each year.
According to Lings more than a million children started school last year, but only 49 000 jobs were created in the same year.
He explained that the average age in SA is 24, adding that the country is largely populated by youth.
Overall he says the country has been showing economic growth every year, which makes room for more job opportunities each year.
