Page 12 - 21 Cotton SA February 2020

/ BEDRYF
GETTING THE

BASICS RIGHT

A recipe for the South African

economic recovery

by Dr Koos Coetzee, an independent agricultural economist

Prospects for a quick recovery of the South African economy seem weak. However, if
government and the private sector work together to get the basics right again, we may

see a recovery in the economy in the medium term.

REQUIREMENTS FOR AN the living standards in the developed world. The
ECONOMIC RECOVERY IMF believes that countries must implement major
In its October 2019 World Economic Outlook, reforms in six key areas:
the International Monetary Fund (IMF) studied the • Domestic finance
requirements for economic recovery in developing • External finance
and emerging economies in detail. While these • Trade
countries enjoyed good economic growth over • Labour markets
the past two decades, they are still not growing • Product markets
at rates that enable their citizens to catch up with • Governance

12 | Katoen SA \\ Cotton SA