Tag: duma gqubule
Central banks and finance ministers around the world have been scrambling for a solution to curb fears over covid-19 and prevent a deep global recession. What coronomics should our own country be following as the South African Reserve Bank starts its two-day monetary policy committee meeting tomorrow? Economist, Duma Gqubule and Isaah Mhlanga, Chief Economist at Alexander Forbes join CNBC Africa to give insight.
The rand weakened on the back of news that South Africa has slipped into a technical recession. According to Stats SA, the country's GDP has contracted by 1.4 per cent in the fourth quarter of 2019. However, according to Citadel South Africa has been in recession since 2013 in terms of per capita growth, owing to the country’s inability to achieve growth of above 1 per cent or at levels above our population growth, which is currently 1.4 per cent. Joining CNBC Africa to discuss what this means for South Africa is Daniel Silke, Political Economy Analyst and Duma Gqubule, Director for the Centre for Economic Development and Transformation.