Ramaphosa’s dream of growth in tatters as SA's economy grinds to a halt
Market reaction swift and rand hits new two-year lows as data show first recession since 2009
SA will struggle to register barely positive growth for 2018.
That is the reality facing President Cyril Ramaphosa, six months after he was swept to power on a wave of optimism that he would reverse the decay of the Zuma years.
His dream of boosting growth to 3% this fiscal year is in tatters, and leaves him vulnerable to opponents both inside and outside the ANC as he prepares to fight an election in 2019, hobbled by a near 30% unemployment rate, which is set to rise further.
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