Unemployment and inequality still biggest problem for SA economy

01 Feb 2016 | Admin Author

The Organisation for Economic Co-operation and Development says unemployment and inequality are the biggest problems facing the South African economy.

Secretary-general Angel Gurrie says while capital income is rising, access to public services is improving and social conditions strengthening, unemployment remains stubbornly high.

Speaking in Midrand on Monday, Gurrie said the problems South Africa faced were prevalent in other developing nations.

"South Africa is a stable well capatilised, well supervised financial system. South Africa however has yet to fulfill it's full potential, clearly the last few years have been difficult for many countries. South Arica has not been alone in experiencing growth during the crisis, indeed the weak recovery in advanced countries, especially in Europe has been one factor sapping demand" he said.