Standard & Poor's says it expects growth in SA's economy to slow to 2.7% this year from 3.1% last year, due to weaker economic conditions elsewhere in the world.
The ratings agency predicted that growth would accelerate to 3.6% next year on the back of stronger growth in exports.
The chief issues facing SA were “endemic” unemployment, which calls for vigorous labour market reforms and a push for skills development, as well as a widening current account deficit, S&P added.
S&P sees the current account shortfall widening to 4.2% of gross domestic product this year from 3.3% last year. - I-Net Bridge