South Africa must shift from consumption to investment

Date: Apr 26, 2013 | News

​​Finance Minister Pravin Gordhan says South Africa’s economic growth is inadequate, and the government must shift from a culture of consumption to investment. He was addressing the public on South Africa’s national development imperatives whilst ensuring fiscal sustainability – challenges and choices – at the University of Johannesburg (UJ) on Thursday, 25 April 2013.

While pointing out some of the major economic hiccups which South Africa endured due to the recent strikes, Mr Gordhan also brought forward the right choices South Africa made in repositioning itself. He emphasised that South Africa kept itself in the global economy, made linkages in the BRICS environment on the African continent, and that the local firms must benefit in Africa’s emergence as the new source of growth and demand.