News / Opinion / Editorials
It’s no secret the SA economy is limping along and the forecast is not looking promising.
Limping is probably too kind a word to describe the state of our economy.
Covid has cut a swathe through our economy, unemployment is at a record high and the man in the street is struggling to make ends meet.
The forecast of real GDP growth is set to remain below 2% next year and in 2024, which will clearly not address the country’s growing socio-economic needs.
ALSO READ: SA’s ‘two great failures’ contributed to the downward spiralling of the economy
According to this year’s socio-economic survey of the Centre for Risk Analysis (CRA), released this week, if the government does not address a number of failures, the slide will continue.
It identified key policy risks, including:
All these don’t make for a pretty picture.
CRA senior economic analyst Bheki Mahlobo said: “South Africa lacks a skilled workforce to be absorbed in specialised employment. These sectors require highly skilled individuals but our education system does not properly equip individuals with such skills.”
ALSO READ: SA’s economy shows fastest expansion since 2007, but we’re not in the clear yet
Due to unemployment, far too many South Africans rely on social grants.
It is an untenable situation, and something has to give. We need a quick U-turn, but we wonder if anyone in government is listening…