SABC News - Current economic growth unsustainable: Gigaba:Monday 11 September 2017

Current economic growth unsustainable: Gigaba

Monday 11 September 2017 17:35


Finance Minister Malusi Gigaba was speaking at the Tax Indaba.(SABC)

Finance Minister Malusi Gigaba has warned that the rebounding economic growth that occurred in the second quarter is not sufficient to be sustained.

He was speaking at the 2017 Tax Indaba currently underway in Sandton.

The economy exited a recession in the second quarter, growing by 2.5%.

Gigaba says drastic measures on the structure of the economy are needed to achieve sustainable growth.

“We simply have to take drastic measures and do better to get the economy growing faster, bigger, sustainably and more inclusive. We cannot afford to become complacent as a result of the GDP growth of 2.5% which has got us out of the recession, as much as it came as a welcome relief for all of us.”

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