Tuesday, March 3, 2020

South Africa in a recession, and unlikely to properly recover soon.

'SA grew but 0,2% for the whole of 2019! We are in a recession and now unlikely to get out of it soon due to power shortages and coronavirus. This is a harsh harsh environment for business and particularly SMMEs.' economist Mike Schussler writes, adding,

'President Ramaphosa now has quite easily the worst economic growth record of SA leaders. It was not of his making perhaps but to get out of a rut you cannot play with the uncertainty of EWC, No clear economic policy other than spin. Unions lead important economic departments' and that,

'6 out of 9 quarter on quarter GDP declines is honestly not a record that helps confidence, It more often than not leads to leadership change (E.g. Brazil). The curse Zuma left SA with is not going away without decisive action to help business grow, profit in order to create work.'

Source: https://twitter.com/mikeschussler/status/1234776269801299968

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