It appears that South Africa’s economy has set a new record with the worst GDP growth since 1945. Strikes in the mining industry and the ongoing power cuts are, according to economist Mike Schüssler, the main reasons for the negative growth. “Load-shedding, corrupt activities at Eskom and mismanagement play a role.”
The manufacturing industry is just as hard hit by power interruptions. Add to that the 60 trucks that have been hijacked or burnt out over the past three weeks or more. According to Schüssler, Ramaphosa has recorded the worst growth record since three out of five quarters have been negative growth since its inception. This is the worst of any SA leader since 1945.
Schüssler says SA is currently in need of leadership and not more investigations and commissions. His advice to CR is: “Lock up corrupt persons”. The construction industry alone abolished 142 000 jobs in the first quarter of 2019.
A political analyst, Daniel Silke, says the government is struggling to make decisions and this is hampering economic growth.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News