Our economy has won before, and it will win again.Before democracy our growth was pedestrian. Indeed, between 1990 and 1992, the economy contracted for three years in a row.
In the fifteen years following democracy, economic growth averaged 3.6 per cent a year. The gross debt-to-GDP ratio declined from 46 per cent to 26 per cent.
Now, even after a decade of weak economic performance, South Africa still boasts deep and liquid capital markets, strong institutions, the most diversified economy on the continent, and a young population.
We are part of the most vibrant continent in the world.
We are part of the most vibrant continent in the world.
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2020 Budget Speech
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