Last week, it was reported that South Africa ’s economy shrank by
1.2% quarter-on-quarter, according to the latest gross domestic product figures
from Stats SA. Read that again: Shrank. It did not slow down. It is going
backwards.
*Jacob Zuma |
Then there is unemployment. Our jobless rate was 26.7%
in the first quarter, the highest in at least eight years. Eight years? That’s
how long Obama has been in power in the US . That’s how long President Jacob
Zuma has been in power in South
Africa .
You might think that this unemployment figure is
terrible. It’s far worse than you think because it does not include
“discouraged” job-seekers (those who have given up looking). If you include
them, then the unemployment rate soars to 36.3%.
In total, there are 8.9million unemployed people
in South Africa .
In February the World Bank said South Africa
needs annual economic growth of 7.2% from 2018 to achieve the government’s
target of reducing the jobless rate to 6% by 2030. It is 2016 and our economy
has contracted by 1.2% in the first quarter.
In 2008, when Zuma and his supporters got President
Thabo Mbeki fired, and he promised to do better, it was growing at a
respectable 3.6%.
Zuma has been a disgrace to the great movement that was
once the ANC. His actions over the past 10 years have turned all South Africans
into a laughing stock across the globe. He is a shame to himself and his
glorious movement.
No comments:
Post a Comment