SA’s economic crisis needs urgent action, says Mbeki
The former president says South Africa has not yet reached a tipping point, but social unrest is certain unless its economic crisis is addressed
thSA is trapped in an economic crisis which is a far cry from the period between 1999 and 2006, former president Thabo Mbeki said on Tuesday. Speaking at the 2016 Sunday Times Top 100 Companies Awards, Mbeki said although SA was in crisis, "fortunately we have not reached a tipping point", which the country should avoid at all cost. "We must act now and do the right thing because time is not on our side," he said. Mbeki said over the years, some "negative features" had emerged in the governing party which the organisation had recognised. These included the use of political power for personal enrichment. He said a deeply disturbing result was the gradual loss of respect for and erosion of the authority of the state. "This cannot but lead to social disorder and instability. It is a matter of common cause that our economy is experiencing great difficulty."
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