{"id":91907,"date":"2024-09-22T12:13:49","date_gmt":"2024-09-22T10:13:49","guid":{"rendered":"https:\/\/radioislam.org.za\/a\/?p=91907"},"modified":"2024-09-22T12:15:28","modified_gmt":"2024-09-22T10:15:28","slug":"low-economic-growth-forecasts-show-fresh-ideas-are-needed-irr","status":"publish","type":"post","link":"https:\/\/radioislam.org.za\/a\/low-economic-growth-forecasts-show-fresh-ideas-are-needed-irr\/","title":{"rendered":"Low economic growth forecasts show fresh ideas are needed: IRR"},"content":{"rendered":"

Neelam Rahim | neelam@radioislam.co.za<\/a><\/p>\n

2-minute read
\n22 September 2024 | 09:08 CAT<\/p>\n

\"\"

Image\/ South African Institute of Race Relations (Facebook)<\/p><\/div>\n

The latest economic growth forecasts from ratings agency Fitch paint a dire picture, indicating a continued decline in South Africa\u2019s economic growth rate. This pessimistic outlook, if left unaddressed, will only worsen the situation. The time for new ideas is now, as emphasized by the Institute OF Race Relations.<\/p>\n

Fitch said South Africa\u2019s economy was likely to grow by 0.9% this year, 1.5% in 2025, and 1.3% in 2026. This aligns with most other forecasts, but it is barely higher than SA\u2019s population growth rate, meaning that unemployment and poverty will worsen.<\/p>\n

Marius Roodt, analyst and writer at the IRR, presents a hopeful perspective: \u201cSouth Africa has the potential to achieve annual economic growth rates of 5% or more, which could significantly reduce poverty and unemployment. It is clear that the country cannot continue as it has been doing over the past decade. We need to think about new ways of doing things.\u201d<\/p>\n

\u201cPossibly the greatest tragedy of post-apartheid South Africa is the high number of people who are without a job. We must remember that behind each of those statistics is a real person who faces the indignity and stress of unemployment,\u201d says Roodt.<\/p>\n

Last year, the IRR released a plan to promote South Africa\u2019s economic growth.<\/p>\n

\u201cThe primary goal of the Government of National Unity (GNU) has to be economic growth. As we approach the first 100 days of the GNU one could say that it has been successful on balance. But if the GNU fails to spark economic growth that is touching annual levels of five percent by the end of its term, it will be deemed a failure,\u201d Roodt says.<\/p>\n

\u201cThings cannot continue as they are. The GNU needs to look at new ways of managing the economy. And the ideas are out there. It\u2019s time to look at them,\u201d Roodt concludes.<\/p>\n

Listen to the full interview on The Daily Round Up with Moulana Junaid Kharsany and Marius Roodt, analyst and writer at the IRR, here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Neelam Rahim | neelam@radioislam.co.za 2-minute read 22 September 2024 | 09:08 CAT The latest economic growth forecasts from ratings agency Fitch paint a dire picture, indicating a continued decline in South Africa\u2019s economic growth rate. This pessimistic outlook, if left unaddressed, will only worsen the situation. The time for new ideas is now, as emphasized […]<\/p>\n","protected":false},"author":29,"featured_media":91908,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[28,4995],"tags":[],"class_list":["post-91907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-south-africa"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/radioislam.org.za\/a\/wp-content\/uploads\/2024\/09\/images-1.jpeg?fit=225%2C225&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/pc0QIf-nUn","jetpack_likes_enabled":true,"publishpress_future_action":{"enabled":false,"date":"2026-04-23 23:40:57","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/91907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/comments?post=91907"}],"version-history":[{"count":0,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/posts\/91907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media\/91908"}],"wp:attachment":[{"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/media?parent=91907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/categories?post=91907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/radioislam.org.za\/a\/wp-json\/wp\/v2\/tags?post=91907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}