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Johannesburg - South Africa needs to urgently resolve its energy crisis to boost the struggling economy, Finance Minister Nhlanhla Nene said on Friday.
"We are working hard to resolve the energy crisis, it's an urgent matter. If we don't address it the economy will choke," Nene said, speaking at a presentation by the Organisation for Economic Co-operation and Development (OECD) in Johannesburg.
According to the OECD South Africa needs to improve business regulation to support job creation and privatise state-owned companies in markets with sufficient competition.
South Africa also needs to boost electricity generation by speeding up the independent power producer programme and facilitating private co-generation, the international think tank said in a report.
Growth in SA was also being hampered by inadequate tax revenue needed to support infrastructure projects.
"The public sector will face considerable resource needs in the years ahead to expand social and economic infrastructure," said the OECD.
"Meeting these needs will require increased revenues, but this must be equitable and not penalise growth."
