Saving South Africa could be on the cards, but it is going to take some work. With low economic growth recorded since 2011, our unemployment rate is being hit hard – and after a survey by The Organisation for Economic Co-operation and Development, assessing South Africa’s economic strength, it would seem the youth is being hit the hardest of all. Not only this, the survey found that our poverty rate is higher than other emerging economies, making up about a third of our population.
The survey makes suggestions to implement bold structural reforms to address some of the challenges we currently face in our economy. Among other suggestions, included were the ideas of improved inter-regional trade with the Southern African Development Countries, as well as support for entrepreneurship. Entrepreneurs are an integral part of our modern economy, however we show less support for these individuals than most other emerging economies. The survey set out specific solutions for different situations, guiding possible ways to save South Africa.
Regarding this sector, a host of suggestions were made, including:
To address the skills shortages and improve access to higher education:
Fostering regional integration to broaden economic opportunities
To address the limited inter-regional trade
Lowering barriers to entrepreneurship and improving the business environment
All of these suggestions, if taken seriously, can help our economy get back on its feet – to the strong nation we once presented. With so much debt plaguing our country, as well as a ton of other detrimental factors, we need to all act with the future in mind, be you government or another face in the crowd.
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We will be able to offer advice on the suitability of debt consolidation to your specific financial situation, as there are instances where it would prove unsuitable. Our consultants will be able to help you with regards to secured and unsecured debt consolidation, and advice as to which would be most favorable to your outstanding debts. Operating on a national basis, we can also provide you with debt counseling or a debt review in South Africa. As mentioned, debt consolidation could save you on monthly payments and interest rates, which has made it a viable option for many. To find out if debt consolidation in South Africa is an option for you, contact Quick Consolidation Loans today.