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

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Rayyan Alhassanhttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
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South Africa’s rising debt trajectory will make it difficult to weather a significant global economic downturn, the central bank deputy governor said.

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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.

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

Reuters/NAN

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