Economic growth has slowed to levels not seen since a recession in 2009, with analysts forecasting it will dip just below 2 per cent this year, down from a peak of 5.6 per cent in 2006. Few believe the country will hit the growth rates of at least 5 per cent per year that are deemed necessary if the state is to get to grips properly with joblessness and poverty - ailments that mainly afflict the black majority - any time soon. "We had no state delivered to us, and the state that was delivered to us only worked in a [white] part of South Africa. For the rest it was an oppressive state, not a service state," Mr Gordhan told the Financial Times days before Mandela's death. In October, the IMF stated: "In recent years the country's structural problems that are holding back growth and job creation have come to the fore. The economy has underperformed other emerging markets and commodity exporters, exacerbating South Africa's already high levels of unemployment and inequality, and contributing to rising social tensions."
Source: FINANCIAL TIMES
Swirl >>
South African President Zuma on Mandelas death Our people have lost a father - PBS NEWSHOUR
Obama Mandelas legacy of South African renewal is an example to the world - PBS NEWSHOUR
White House Obama first lady to attend Tuesday memorial in South Africa for Mandela - SAN FRAN CHRONICLE
South Africa holds day of prayer for Nelson Mandela - CBS NEWS
South Africa sites that defined Nelson Mandela - TELEGRAPH
Bipartisan congressional delegation to attend Mandela memorial service in South Africa - FOX NEWS
South Africans secure oneday series victory - INDEPENDENT
Simon Calder How Nelson Mandela gave South Africa back to the world - INDEPENDENT
No comments:
Post a Comment