Understanding the contribution of crime to South Africa’s low trend growth is critical to designing and implementing the right policies to combat and mitigate the costs of crime on the economy and society. The World Bank and the African Futures and Innovation program of the Institute for Security Studies (ISS) will explore this topic at the launch of the South Africa Economic Update, edition 14 entitled: Safety First: The Economic Cost of Crime in South Africa.
The South Africa Economic Update is designed to contribute to policy dialogue and debate. This edition marks a significant milestone in quantifying economic impacts of crime on the economy, and its implications for economic growth and development – a topic that has not sufficiently been explored in a comprehensive manner.
This 14th edition of the South Africa Economic Update shares research, analysis, and ideas on how to confront the problem of crime. Addressing its socio-economic costs are critical for South Africa’s future because they affect economic growth, jobs, and inclusion.
The launch was opened by the World Bank Country Director for South Africa, Marie Francoise-Marie-Nelly, followed by a presentation of recent economic developments and the outlook for South Africa; and the findings of analysis on the economic cost of crime on the South African economy. A panel discussion by leading policy makers, subject matter experts and stakeholders from affected sectors shared the analysis and recommendations.