South Africa's cenbank governor says economic prospects not promising
CAPE TOWN, June 1 (Reuters) - South Africa's economic prospects do not look promising, and structural reforms are urgently needed to boost productivity, central bank Governor Lesetja Kganyago said on Wednesday.
Speaking at a conference, Kganyago said maintaining consistently low and stable inflation was the best contribution the South African Reserve Bank could make to balanced growth.
The central bank has said the economy is expected to grow by 0.6 percent this year compared with a forecast of 0.9 percent given by the National Treasury.
(Reporting by Wendell Roelf; Writing by Stella Mapenzauswa; Editing by James Macharia)
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