South Africa’s debt too high to weather global crisis – Central Bank

 

 

 

South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said.

Deputy governor Kuben Naidoo said on Wednesday in Cape Town that it would take at least a decade to bring the debt-to-GDP ratio down to the 30 to 40 per cent range.

Naidoo also said that growth in Africa’s most industrialised economy was seen hovering around the 2 per cent over the next few years.