Slowdown in Brics increasingly down to domestic factors – Mminele
Sarb deputy says structural reform needed to foster global growth
A deputy governor of the South African Reserve Bank has highlighted how domestic factors are having a bigger impact on the growth slowdown in the so-called Brics economies than a few years ago.
Speaking at the Deutsche Bundesbank Regional Office, Daniel Mminele recognised Brazil, Russia, India, China and South Africa had become an important source of global growth and political influence, growing their share of global GDP from 11% in 1990 to 30% in 2014.
However, their economies had recently
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