South Africa's Economy

buyeye

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Economy ::SOUTH AFRICA
Economy - overview:

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 16th largest in the world. Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. The global financial crisis reduced commodity prices and world demand. GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly with 2014 growth projected at about 2%. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is at nearly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, has built two new power stations and installed new power demand management programs to improve power grid reliability. Construction delays at two additional plants, however, mean South Africa is operating on a razor thin margin; economists judge that growth cannot exceed 3% until those plants come on line. South Africa's economic policy has focused on controlling inflation, however, the country has had significant budget deficits that restrict its ability to deal with pressing economic problems. The current government faces growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.[/quote ]

Source : https://www.cia.gov/library/publications/the-world-factbook/geos/sf.html

I think the CIA says that Eskom management did not perform well at all.

What do you think? I remember watching something on tv where they were trying to justify their mess up.
 

buyeye

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South Africa's economic policy has focused on controlling inflation while empowering a broader economic base; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness, and frequent work stoppages due to strike action. The government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas, to increase job growth, and to provide university level-education at affordable prices. Political infighting among South Africa’s ruling party and the volatility of the rand risks economic growth. International investors are concerned about the country’s long-term economic stability; in late 2016, most major international credit ratings agencies downgraded South Africa’s international debt to junk bond status.


I think I understand why we have skills shortages, doesn't that also lead to our decline in global competitiveness? Which means they are one and the same problem?
 

Techne

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Declining global competitiveness? No way, how can this be? We dropped meritorious based worker selection for SJW BEE, we should see an increase in competitiveness.
 

Milano

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The ANC has only completed at most about 15% of its war against white capital. This economy currently in freefall will be fondly remembered as the good old days a decade from now.
 

Milano

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what are you suggesting, the statement I made is factually false?
I suggest far more than that. I suggest you that you have been entirely deluded by your hatred into ignoring the mountains of evidence around you that substantiate what is a very reasonable balanced and factual report.
 

saturnz

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I suggest far more than that. I suggest you that you have been entirely deluded by your hatred into ignoring the mountains of evidence around you that substantiate what is a very reasonable balanced and factual report.
so when the previous CIA director Mike Pompeo said on record that the CIA lies steals and cheats, and they have training programs for such tactics, he was lying then?
 

Milano

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so when Mike Pomper said on record that the CIA lies steals and cheats, and they have training programs for such tactics, he was lying then?
This report reads like any report that could have been written by any factual economist.
 
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