SA’s infrastructure bottlenecks ‘stifling export growth’

THE World Bank says South Africa’s infrastructure bottlenecks and high logistics costs, especially those relating to ports, rail and telecommunication, are delaying stronger growth in exports — which is needed if the local economy is to grow fast enough to create jobs.

South Africa is battling high unemployment and its growth and development strategy, the National Development Plan (NDP), proposes strong growth in export volumes as one of the ways the economy can bolster growth.

The World Bank released a report on Tuesday focusing on the South African economy and its export competitiveness.

The bank revised South Africa’s 2014 economic growth outlook down to 2.7% from an earlier forecast of 3.2%. Despite the revision, it said the 2.7% economic growth would be much better than the expected 1.9% growth last year. Statistics South Africa will release last year’s economic growth data later this month.  READ MORE

Source:  BusinessDay Live   #IFAMAFRICA