General News
IMF says optimism in South Africa’s economic recovery declining :: Kenya
[ad_1]
JOHANNESBURG – South Africa’s economic recovery plans face serious constraints with growing debt of state firms domestically and capital outflows as a result of global trade tensions, the International Monetary Fund (IMF) said on Monday.
In October the global lender said it saw Africa’s most industrialised economy expanding by 0.8 percent in 2018, down from a prior forecast of 1.5 percent. South Africa’s Treasury predicts growth of 0.7 percent.
ALSO READ:
Kenya faces risk of paying foreign loans at high cost
The recession-bound economy and a bleak budget in October have piled pressure on President Cyril’s Ramaphosa.
“Some of the initial optimism has dissipated as growth remains stuck in low gear and reform implementation has faced constraints,” the IMF said, naming the state power firm Eskom as a key risk.
The president’s work is made harder by cash-strapped state-owned firms, including debt-ridden Eskom, which is struggling to supply the nation’s power.
The IMF said the proposal to amend property laws to allow for expropriation without compensation should be carefully considered and be guided by lessons of international experience.
“Land reform should focus on enhancing agricultural productivity and strengthening tenure security,” said the IMF.
Your opinion is valuable. Take this quick survey to help us improve the website and content
A parliamentary team has recommended a constitutional amendment to make it possible for the state to expropriate land without compensation. The recommendation will now go to the national assembly for a vote.
Would you like to get published on Standard Media websites? You can now email us breaking news, story ideas, human interest articles or interesting videos on:
[ad_2]
Source link
- moneylion loans usa payday loans1 week ago
Check out the date the home ended up being offered, as well as the date you past made a repayment towards the home loan business.
- General News1 week ago
Essay Writing Service At $7
- General News1 week ago
Prime 10 Finest Essay Writing Companies Of 2021 Ranked By College Students
- payday loan near me2 days ago
Debit card payday improvements. cash loans in a single hour
- Main1 week ago
An Open Diagnosis In That Flamingo Located in Todas las Vegas
- check city loans safe online payday loans1 week ago
Do you understand you could utilize your car or truck that will help you secure finance? Exactly Just Exactly How? By connecting it as secure deposit against your loan.
- payday loans manassas va7 days ago
100 pay that is online loans. Payday advances for the unemployed
- Main3 days ago
A brand new Word wide web gambling house Designed Room