But, this is why the banks were nationalized – and AIBEA played an important role in nationalization of the banks. But still, after more than forty years of nationalization, we are still discussing whether banking should be made a fundamental right. Why the flaw with government appointed managements?
There are two elements here: one is the impact of longer term constraints which hamper new investment, and which is reflected in the overall lower potential output; the other is the impact of load-shedding on existing capacity and therefore on current output. We estimate this latter factor to be in the order of magnitude of around 0,5 percentage points of GDP.