WATCH: State capture knocks economy

The damage done to the economy by state capture is worse than previously thought. Courtesy #DStv403

PRETORIA - The damage done to the economy by state capture is worse than previously thought, that's according to the Reserve Bank.

In its monetary policy review documents, the central bank says state capture, together with load-shedding, is having a grave impact.

According to the Reserve Bank, if load-shedding continues, it may wipe out almost all economic growth this year.

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Reserve Bank governor Lesetja Kganyago says the central bank can't be expected to bail out ailing state-owned companies like Eskom.

“You are asking us to print money, that means you have flooded money into the economy and the consequences are too ghastly to contemplate,” said Reserve Bank Governor Lesetja Kganyago.

Source
eNCA